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whole life insurance

   Also found in: Financial, Acronyms, Wikipedia 0.01 sec.
whole life insurance
n.
Insurance that provides death protection for the insured's entire lifetime.
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.whole life insurance - insurance on the life of the insured for a fixed amount at a definite premium that is paid each year in the same amount during the entire lifetime of the insured
life assurance, life insurance - insurance paid to named beneficiaries when the insured person dies; "in England they call life insurance life assurance"


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The San Francisco Bay Area Agency, a general agency of Massachusetts Mutual Life Insurance Company (MassMutual), is reporting that in 2008 it experienced a record 82-percent increase in sales of whole life insurance - and the agency has brought on 50 new financial services professionals and staff, increasing its field force of agents by 18-percent to handle growing demand.
The easiest way to understand the difference between whole life insurance and term life insurance is to look at what is meant by their names.
The lower premium rate is an attraction for the insurer as to why not invest the difference in amount between term life insurance and whole life insurance in something else for better yield.
 
 
 
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