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A Whole of Life policy is a specific type of Life
Assurance. The primary difference between Whole of Life
and normal Life Assurance is that with Whole of Life, there’s
no “term - the policy is in force for as long as
you live and pay the premiums. That is why it is called
Whole of Life! In all other aspects, Whole of Life
operates the same way as Life Assurance.
There is one other point you should be aware of. There is
no resale market for Whole of Life policies – you can
only cash them in with the insurance company.
The following Frequently Asked Questions are related to the
above topic. You may care to read them: -
What is the difference
between Life Assurance and Life Insurance?
When might I want Life
Assurance as opposed to Life Insurance?
What does Life Insurance do?
What does Mortgage Life
Insurance do?
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