Business Whole of Life Protection Plan
Amount of Cover
No minimum sum assured. Driven by minimum premium.
Maximum sum assured -
- £2,000,000 - if Indexation is chosen and the life insured is aged up to 70.
- £1,000,000 - if Indexation is chosen and the life insured is aged 71 to 84.
- £5,000,000 - If life insured aged up to 69.
- £2,000,000 - if life insured aged 70 to 79.
- £1,000,000 - if life insured aged 80 to 84.
The amount of cover remains the same throughout the policy unless Indexation is chosen.
- Minimum term allowed is 1 year.
- Maximum term - not applicable as the plan lasts until the life insured's death.
- The minimum age to take out a policy is 18.
- The maximum age for buying a policy is 84.
- Payable monthly by Direct Debit or annually by Direct Debit or cheque.
Policy can be taken out to cover
- Share Protection
- Key Person Protection
- Business Loan Protection
- Policy can be placed in trust.
- Policy can be assigned or owned by a third party.