The foundation of any effective financial planning is to protect against unforeseen events that could affect a clients' standard of living.

It is important to consider protecting some or all of the following:

Your family in the event of death, serious illness or disability.
Your assets e.g. home and business interests.
Yourself, your partner and your estate should you require residential care in later life.  

This will ensure you, your family and your loved one’s way of life is protected should any of the events mentioned above actually occur. A whole Life plan can often provide the cover required.

We also offera ‘protection review service’. This is where we look at a clients existing life insurance policies or whole life plan and conduct a review. During which we look at the cost of the plan, the type of cover and also advise on whether this is still suitable or indeed whether another type of plan would better suit your current requirements.

How do I appoint Alpha Financial Management to conduct a protection review?

Firstly contact us using the enquiry form below or call us on 0151 949 1666

You will be appointed your own protection adviser who specialising in advising of the vast array of protection products available in the market.

Our fee guarantee: You will not pay any fees unless we can help you.

What is whole of life insurance cover?

Whole of life insurance or whole of life assurance, is a policy that is designed to pay out a death benefit whenever death takes place, subject to the premiums being maintained.

Due to this certainty of payment whole of life insurance can and is more expensive than it's cheaper term insurance cousin.

Premiums for Whole of life policies may be paid in two ways regular premium or lump sum single premium. They may be non-profit, in which case only the guaranteed sum will be paid on death, with profit, which is where the amount payable is the sum assured plus whatever profits have been allocated to the policy up to the date of death, or finally unit linked plans where the amount payable is the sum assured plus any additional value from the investment performance of the units.

So why are Whole of Life plans so much more expensive than term assurance plans and then why do they build up a cash sum?

Well because Whole of Life, life assurance has to run until the life assureds ultimate death the insurance companies undertake a certain degree of risk that they are not getting enough in premiums to cover the eventual risk. So bearing this in mind they charge a higher cost than that of level term assurance and they build up a fund this allows then in the future to use the fund to supplement premiums should mortality rates change.

For information Mortality rates are the statistical chance of someone dying

Like most life insurance plans today additional benefits are available with a Whole of Life Assurance contract such as Critical Illness Cover, Indexation benefit and Waiver Of Premium Benefit but as with any additional benefit they do not come without cost and in some cases will only be granted as benefits on the plan subject to the plan being granted on standard rates (ie a fit and healthy life assured at onset of the plan).

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