Partnership's Whole of Life is a long term assurance policy that pays out a lump sum on your death. As the name suggests, this type of policy covers you for life and is sometimes used to cover any Inheritance Tax (IHT) liability that falls due on your death. Premiums are payable until you die, after which your estate or beneficiaries will receive a lump sum payment from the policy.
The sum assured remains the same throughout the policy.