Whole Life Insurance Policy

What does it Mean? A life insurance contract with level premiums that has both an insurance and an investment component. The insurance component pays a stated amount upon death of the insured. The investment component accumulates a cash value that the policyholder can withdraw or borrow against. 
Investopedia Says... As the most basic form of cash-value life insurance, whole life insurance is a way to accumulate wealth as regular premiums pay insurance costs and contribute to equity growth in a savings account where dividends or interest is allowed to build-up tax-deferred.

Terms Related Links

Blanket Insurance
Cash Surrender Value
Contract Holder
Death Benefit
Life Insurance
Participating Policy
Policy Loan
Variable Life Insurance Policy
Waterfall Concept

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