Whole-of-life: A market of two halves

Over the past few years, whole of life insurance has seemed to become the much more interesting product compared to its term assurance counterpart. However, it is worth noting that whole of life is a market of two halves - the medically underwritten whole of life plans and the guaranteed acceptance whole of life policies or the over-50s market. The medically underwritten plans typically use higher premiums but have higher payouts while the opposite is true of the over-50s market, which has often been marketed to older people with less disposable income who wish to leave behind a small...