Relating to or denoting a life insurance policy that pays a specified amount only on the death of the person insured.
Example sentencesExamples
- If you bought their whole-life Financial Guardian policy and paid premium for 13 years, you were set for life.
- Universal and whole-life policies (which have a savings or investment component) cost more but accrue cash value as you go and are guaranteed renewable as long as you live.
- Split-dollar insurance is the practice by which a company takes out a whole-life insurance plan in an executive's name and splits the annual premium payments with him or her.
- You could also take a loan from a whole-life insurance policy that has accumulated value over time.
- Max New York Life insurance Company has decided on a maiden cash bonus to its whole-life policy-holders.
- Those who bought whole-life insurance policies a decade or so ago were probably told that they would have to pay premiums for about 10 years.
- He recently received a letter from his insurer telling him his whole-life policy was about to lapse.
- Some of its new products are risky, such as a whole-life insurance policy that invests 15% of its premiums in the volatile local stock markets.