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.

Term

  • Minimum term allowed is 1 year.
  • Maximum term - not applicable as the plan lasts until the life insured's death.

Age restrictions

  • The minimum age to take out a policy is 18.
  • The maximum age for buying a policy is 84.

Premiums

  • Guaranteed.
  • 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

Other information

  • Policy can be placed in trust.
  • Policy can be assigned or owned by a third party.