whole life insurance

Definitions of whole life insurance
  1. noun
    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
    synonyms: ordinary life insurance, straight life insurance
    see moresee less
    type of:
    life assurance, life insurance
    insurance paid to named beneficiaries when the insured person dies
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