What are the additional benefits?

Whole of life assurance has additional benefits in that it will provide you with cover for life, removing the risk that as you get older you may find it difficult to get insured.

Additionally under the current tax laws, proceeds from a whole of life policy are usually free from UK income tax and capital gains tax.

However, as they are normally paid to your estate, they may be subject to Inheritance Tax.

Putting your life insurance policy in trust is a complex procedure and requires advice from your solicitor and financial advisor.