Relating to or denoting a life insurance policy that pays a specified amount only on the death of the person insured.
- 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.
- 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.
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