Whole Life Insurance Whole Of Life Insurance Whole Of Life Insurance Quote Get Life Insurance Types Of Cover: Maximum Cover - The cheaper of the two and designed to provide the maximum level of cover for the premium quoted. The initial premium and sum insured are guaranteed not to increase for the first 10 years. The plan will then be reviewed and the premium is likely to increase to maintain the same level of cover. Balanced Cover - This cover aims to balance the level of life insurance with adequate investment to support the cover in later years and maintain the original premium throughout life. This relies on the value of units invested in the underlying fund growing at a certain level each year. Increased charges or poor performance of the fund could result in the premium being inadequate and may have to be increased to maintain the same level of cover.