Definition of whole life insurance in English:

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whole life insurance

noun

Life insurance that pays a benefit on the death of the insured and also accumulates a cash value. Compare with term life insurance.
Example sentences
  • The percentage of expenses to premiums for whole life insurance usually varies between 10 percent to 40 percent.
  • Young breadwinners simply cannot afford adequate protection with whole life insurance and, typically, end up either grossly underprotected with a lapsed policy or both.
  • Currently, he has a $250,000 whole life insurance policy with Northwestern Mutual that is $190 per month.
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