Whole of Life Insurance

Whole of Life Cover is a type of life insurance that offers lifelong protection, providing both you and your loved ones with peace of mind. Unlike term life insurance, which offers coverage for a specific period, whole of life insurance ensures that your beneficiaries will receive a payout whenever you pass away. This type of policy is often chosen for long-term financial planning, estate preservation, and ensuring your legacy lives on.

1. Lifetime Coverage: With Whole of Life Cover, you’re covered for your entire life, provided you continue to pay the premiums. This means your beneficiaries will receive a payout no matter when you pass away, ensuring financial protection for your loved ones.
2. Cash Value Accumulation: Many Whole of Life policies include a cash value component. Over time, the policy can accumulate cash value, which you can access through loans or withdrawals for various financial needs.
3. Estate Planning: Whole of Life Cover is an invaluable tool for estate planning. It can help cover estate taxes, ensuring that your heirs don’t face a substantial tax burden upon your passing.
4. Final Expenses: These policies can also be used to cover funeral and burial expenses, relieving your family of the financial burden during a difficult time.
5. Guaranteed Premiums: In many cases, the premiums for Whole of Life Cover are fixed, meaning they won’t increase as you age. This predictability makes it easier to budget for your insurance.
6. Dividend Payments: Some whole life policies from mutual insurance companies may pay out dividends to policyholders, providing an opportunity for additional returns.

Baker Hudson goes the extra mile to tailor life insurance policies to your unique needs. We offer a range of options & our experienced agents will work closely with you to find the right coverage at the right price.