If you're considering making changes to your plan, like your payments or the amount of life cover you need, we'll be happy to help. It's important to note that once you've told us what you've decided to do, you can't change your mind. Please be sure you understand all your options, and the effect of any changes you make. There are a few things you and any other plan owner should think about before you make any decisions.
If you have any questions once you’ve read this summary, or need any help understanding your options - just call us on 0345 640 1000 or +44 178 644 8844 if you’re calling from abroad. We might record your call for training and quality purposes. To find out more about how we use your personal data please visit pru.co.uk/mydata.
A whole of life plan is a long-term savings and investment plan with life cover, which pays out a lump sum on death. You make regular payments over an agreed number of years, or until death. Some plans will accept single payments. The level of life cover is chosen at outset and the cost of this cover may be reviewed.
These plans are usually intended to cover funeral costs, provide for loved ones, or to help pay an inheritance tax bill.
These vary depending on your plan type and the benefits you've chosen. We can explain your options further if you call us. They could include:
Other options include stopping payments for good and making your plan paid up.
You could also consider cashing in part or all of your plan.
When making changes to your plan it’s important to ensure that the level of cover remains sufficient for your needs.
Changes to your payments could result in the following:
You may have additional benefits depending on the type of plan you have and the options you chose at outset. These may include sickness or disability benefit, conversion options and the right to change the life assured. We’ll tell you if any of these apply and explain how your changes might affect them if you call.
The value of your investment can go down as well as up so you might not get back the amount you put in.
Fraudsters are always out there and constantly changing their tactics. So if you’re thinking of reinvesting the money from your plan, take a minute to find out how to stay ahead of the scammers.
We can’t give you advice or make your decision for you, but we’ll be happy to help you understand your plan and talk you through all your available options and their possible implications.
Alternatively, speak with a financial adviser - if you don’t have one, you can get details of financial advisers in your area at pru.co.uk. Financial advisers will charge you a fee for any advice they give you, but it will be personal to you.
We’re here 8am - 6pm Monday to Friday (except bank holidays) and happy to help in any way we can. Please make sure you have your plan number to hand when you call.