whole life insurance

Definition of "whole life insurance"
  1. A permanent life insurance coverage where the policyholder pays a fixed premium for their lifetime and accumulates cash reserves which can be utilized for loans or paid out if the policy is surrendered
How to use "whole life insurance" in a sentence
  1. After considering the benefits, he decided to purchase a whole life insurance policy.
  2. The cash value of her whole life insurance policy had accumulated considerably over the years.
  3. They relied on their whole life insurance policy for loans in times of financial hardship.

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