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Whole of Life

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A Whole of Life Policy is a life assurance contract that has no specific term but can run as it says for the whole of your life.  It will pay out a cash sum when you die, as long as you have paid the premiums.  It is often used to reduce the impact of inheritance tax and offers a range of options to suit your needs, level of cover and premium you are prepared to pay.

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Because death is inevitable, premiums for whole of life cover are more expensive than for the alternative option of ‘term life insurance’.

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Whole of Life plans are commonly used to insure against Inheritance tax.  If you take out a whole of life policy and write it under trust, your beneficiaries will receive the pay-out which they can use to pay the IHT bill for your family or next of kin.  Tax planning is a complex area, and the rules are changing all the time, so you should consider taking specialist advice about putting life insurance in trust.

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TAX TREATMENT IS BASED ON INDIVIDUAL CIRCUMSTANCES AND MAY BE SUBJECT TO CHANGE IN THE FUTURE.

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TAX PLANNING IS NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.

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THE VALUE OF INVESTMENTS AND INCOME FROM THEM MAY GO DOWN. YOU MAY NOT GET BACK THE ORIGINAL AMOUNT INVESTED.

Foyle Financial Ltd is authorised and regulated by the Financial Conduct Authority.  Foyle Financial Ltd is entered on the Financial Services Register (www.fca.org.uk/register) under reference 1005338.

 

Foyle Financial Ltd is registered in NI as a Limited Company NI654025

Principal: Brendan Carlin
Foyle Financial
3 Queen Street
Derry.
BT48 7EF

FOYLE FINANCIAL LTD

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Phone: 02871 361000

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Email: brendan@foylefinancial.co.uk

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Working Days/Hours: Mon - Fri / 9am - 5pm

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Email communications are not secure and for this reason Foyle Financial cannot guarantee the security of the email, its contents or that it remains virus free once sent.

The information contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK

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