What Is Whole Life Insurance Mean at Life

What Is Whole Life Insurance Mean. As you age and the cost of insurance increases, your cash value and any earnings help pay for the policy. • whole life insurance (noun) the noun whole life insurance has 1 sense:.

Not only does it pay a death benefit if you die, but it also accumulates cash value. For example, whole life insurance (a type of permanent insurance) may feature a level premium, which stays the same each year. You can borrow against this cash value;

Whole life insurance is paid out to a beneficiary or beneficiaries upon the policyholder’s death, provided that the premium payments were maintained. Why some people choose whole life insurance. Whole life insurance is paid out to a beneficiary or beneficiaries upon the policyholder’s death, provided that the premium payments were maintained. For example, whole life insurance (a type of permanent insurance) may feature a level premium, which stays the same each year.