What Does Whole Life Insurance Mean at Life

What Does Whole Life Insurance Mean. You’ll still be insured your whole life, but you’ll only make payments during the set period, which means your payments are higher. These life policies provide insurance until the death of the insured person.

Permanent life insurance is different than term life insurance, which covers the insured person for a set amount of time (usually between 10 and 30 years). A whole life insurance is different from a paid. Whole life insurance is one type of permanent life insurance that can provide lifelong coverage.

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Term life insurance at your pace. It provides a variety of guarantees, which can be appealing to someone who doesn’t want any. In simple words, whole life insurance means insurance on the life of an insured person for a fixed amount at a definite premium which is to be paid each year in the same amount during the entire life of an insured person. Whole life insurance is one type of permanent life insurance that can provide lifelong coverage.