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whole life insurance
(redirected from permanent insurance)

   Also found in: Financial, 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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US insurers prefer to go for permanent insurance for various reasons like: ?
PERMANENT VS, TERM: Permanent insurance uses higher premiums to build up cash in the policy that will pay for the insurance later in life when coverage becomes expensive.
Permanent insurance such as Whole Life, Universal Life, Equity Indexed Universal Life and Variable Universal Life is regularly promoted as the perfect retirement vehicle or the new way to build wealth.
 
 
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