whole life insurance

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Related to Whole Life Insurance Policy: Term Life Insurance Policy, Universal Life Insurance Policy

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 ?
For example: empty nesters may want to restructure their auto policy since the kids aren't driving the parents' cars anymore; or a whole life insurance policy could be tweaked to bring more value.
Ask your life insurance company whether you have the option of "conversion privileges" from your current term life insurance policy to a new whole life insurance policy.
Advisors helped them set up a Section 412(i) defined benefit retirement plan, funded with a whole life insurance policy.
These customers might have preferred the long-term security of a whole life insurance policy, but simply couldn't afford it and instead decided to buy a term life policy.
The time to buy a nice whole life insurance policy that can build a reasonable cash value is right after school, when the cost is low and insurability is all but certain.
In 2013, MassMutual realized its eighth consecutive year of growth in whole life insurance policy sales3 $347 million and demand continues to be strong through the first three quarters of 2014.
Alternatively, including a whole life insurance policy as part of a retirement plan may help to reduce future tax burdens and take advantage of today's historically low tax rates.
To do that successfully, there was never any question whether life insurance would be part of the process; it was simply standard operating procedure to include a whole life insurance policy as an asset in a defined benefit plan within the "incidental benefit" limits prescribed by the IRS.
But if the same client attempted to achieve balance between two correlated asset types--meaning he decides earlier in life to invest so that he ends up with just $1 million in retirement accounts and purchases a whole life insurance policy for the same amount in death benefit-- then, at retirement, he could trade the first $1 million for an income annuity.
Your client, Peter, is a high net worth client in his late forties who is considering investment in a whole life insurance policy because of the associated tax benefits.
I have a whole life insurance policy but am looking to pick up additional term life insurance.
A whole life insurance policy will certainly provide benefits for your client's family if they pass away prematurely.