whole life
Birth to death
Whole life is a type of permanent life insurance that covers the policyholder for their entire lifetime, as opposed to term life insurance that expires after a set period.
Premiums remain fixed, and the policy accumulates cash value over time: She converted her term policy to whole life.
The cash value can be borrowed against or withdrawn.
- policyholderOwner of insurance contract
- insurance policyAgreement guaranteeing financial protection
- cash valueConvertible monetary worth
- death benefitPayment upon policyholder's passing
- existenceState of being real
coverage · legacy · premium · underwriting · grave · dividends · cradle · mortality · annuity · beneficiary · claims · estate planning · payout · nest egg · growth · financial security · forever · years
- insuranceinsurance, coverage, auto insurance, home insurance, underwriting
- life insurancebeneficiary, premium, death benefit, premiums, coverage
- insurance termspremiums, full coverage, monthly premium, deductibles, payout
- protection planswarranty, extended warranty, insurance, health insurance, car insurance
- savingssavings account, piggy bank, online savings, savings bonds, savings plan
- Tax-Free Investmentsmunicipal bonds, state bonds, Roth IRA, health savings account