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Protection
Whole of Life
Whole of Life Assurance can provide life cover without a limited term. Standard cover allows the same level of life cover to be kept up throughout your lifetime, providing the fund achieves a specified minimum annual growth rate. If this rate is not achieved you will either need to increase the premium or to decrease the level of cover. Whatever level of initial cover is chosen, that amount is guaranteed to be maintained for a specified term (normally 10 years).
The policy should be written in trust so that the proceeds of the plan are not paid into your estate and will not therefore suffer the delays involved in obtaining probate. They will also escape inheritance tax.
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