whole life insurance

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whole life insurance

n.
Insurance that provides death protection for the insured's entire lifetime.
ThesaurusAntonymsRelated WordsSynonymsLegend:
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"
References in periodicals archive ?
"Over the past 25 years he purchased four different whole life insurance policies as a way of protecting his family and accumulating some cash value for his eventual retirement."
Woodforest Commercial Banking has announced it has led a new USD 60 million senior secured credit facility for Avmont, a private investment fund focused on investing in whole life insurance policies, the company said.
Clients should also remember that they may be able to borrow from whole life insurance policies on a tax-free basis if the policy has accumulated substantially.
5: How does the adjustments provision of AL differ from the change provision often found in ordinary whole life insurance policies?
New York Life further enhanced its scale with the acquisition of a 60% net interest in John Hancock Financial's (John Hancock) closed block of primarily participating whole life insurance policies, through reinsurance, in July 2015.
7 July 2015 - US-based insurer New York Life has completed the acquisition, through reinsurance, of a net 60% interest in John Hancock Financial's closed block, comprised primarily of participating whole life insurance policies, the company said.
Universal life insurance: Combines features of term life insurance and whole life insurance policies by offering death benefits at lower, flexible premiums with a cash value.
When deciding between term life and whole life insurance policies, the best plan for any particular individual depends on their situation and what they want from their policy.
Juvenile whole life insurance policies began back in the 19th century as a way for the impoverished classes to pay for funeral and burial costs.
When Nancy Beck began her career in 1982, a popular strategy was to replace clients' whole life insurance policies with a new product: universal life.
For whole life insurance policies, where the surrender charge is not separately stated, the policy owner must contact the insurance carrier for the PERC amount.