What is the Definition of Whole Life Insurance?

What is the Definition of Whole Life Insurance?

The oldest kind of cash value life insurance that  combines protection against premature death with a savings account. Premiums are fixed and guaranteed and remain level throughout the policy’s lifetime.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Whole Life Insurance?

You can find random definition and meaning of insurance terms below:

What is the meaning of Federal Flood Insurance

coverage for qualifying residents and businesses in flood prone regions through the National Flood Insurance Act, a federally subsidized flood insurance program enacted in 1968.

What is the meaning of Federally Reinsured Crop

crop insurance coverage that is either wholly or in part reinsured by the Federal Crop Insurance Corporation (FCIC) under the Standard Reinsurance Agreement (SRA). This includes the following products: Multiple Peril Crop Insurance (MPCI); Catastrophic Insurance, Crop Revenue Coverage (CRC); Income Protection and Revenue Assurance.

What is the meaning of Federal Emergency Management Agency

an independent agency, tasked with responding to, planning for, mitigating and recovery efforts of natural disasters.

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