whole life insurance

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Related to Whole Life Policy: Endowment policy
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  • noun

Synonyms for whole life insurance

insurance on the life of the insured for a fixed amount at a definite premium that is paid each year in the same amount during the entire lifetime of the insured

References in periodicals archive ?
Having a whole life policy with a chronic care rider allows people to lessen the financial burdens of chronic care situations.
A single-pay, paid-up whole life policy at the attained age; or
A whole life policy that participates in the investment experience of the issuing company generates an annual dividend, which is defined as a partial return of premium, and this is how producers like Leggett use it to the advantage of younger clients.
In a whole life policy, the net cash value (for whole life contracts where there is no separately stated surrender charge).
The whole life policy at issue here gave the taxpayers the right to receive cash "dividends" from the insurance company based upon the company's investment gains on the premiums paid by the taxpayers.
The only way to ensure that your death cover will actually pay out one day is to take out a whole life policy.
A 72 year-old man has a $2 million whole life policy, is strapped for cash, and has a short life expectancy (to age 77).
So if you have a $500,000 whole life policy with a $100,000 cash value, you can borrow against the cash value with a lower interest than a bank and the policy will pay it back.
The death benefit of the whole life policy will fund a special needs trust for their oldest son's long-term financial needs.
From the consumer's perspective, both term and whole life policy holders with health or other insurability problems tend to lapse less frequently, because their alternatives are limited and can be more expensive.
Over time, the paid-up insurance purchased by dividends may replace most of the term portion, so that eventually the "target death benefit" consists entirely of the base whole life policy and the paid-up additions rider.
Many companies pay 55% first year commissions when the plan of insurance is similar to an ordinary whole life policy.
This will translate into a cut in premium payment of about 100,000 yen for a whole life policy that requires 9 million yen in premium payment at the age of 50 for death coverage of 12 million yen, the sources said.