Universal Cover

Universal whole-of-life insurance is essentially unit-linked insurance (see balanced cover) with added benefits. Not only does it pay out a guaranteed sum plus any profits received from investments, it also gives you further opportunities for cover. As well as encashing investments as you grow older in order to buy life cover (see whole-of-life insurance), the investment units can also be used to purchase health insurance, critical illness cover, personal accident cover and/or hospital income benefit, which provides you with a small income in the event that you are hospitalised through illness or an accident. Universal whole-of-life insurance is designed to meet all your protection needs in one flexible policy.