A traditional type of life policy (not universal or variable) which provides coverage for the "whole life" of the insured, rather than for a specific term period. The proceeds are pa [..]

Definition Life insurance which provides coverage for an individual's whole life, rather than a specified term. A savings component, called cash value or loan value, builds over time and can be u [..]

life insurance that may be kept in force for a person's entire life and that pays a benefit upon the person's death, whenever that may be.

A life insurance policy that runs for the whole life of the person covered under the policy, until their death. Policyholders may pay premiums for a whole-life policy for their entire life or for a limited period at a higher premium.

A policy remaining in full force and effect for the life of the insured with premium payments being made for the specified period. Also known as Ordinary Life.

Insurance that provides coverage until the end of the insured’s life.

Life insurance which pays whenever death occurs. Whole life insurance has cash values. (Also called straight life or ordinary life.)

Insurance which provides coverage for an individual's whole life, rather than a specified term. The oldest kind of cash value life insurance that combines protection against premature death with [..]

Life insurance coverage that remains in force during the insured's entire lifetime, provided premiums are paid as specified in the policy.