whole life policy
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whole life policy — whole of life policy A life assurance policy that pays a specified amount on the death of the life assured. Benefits are not made for any other reason and the cover continues until the death of the life assured, provided the premiums continue to… … Big dictionary of business and management
Traditional Whole Life Policy — A type of life insurance contract that provides for insurance coverage of the contract holder for his/her entire life. Unlike term life insurance, which covers the contract holder until a specified age limit, a traditional whole life policy never … Investment dictionary
Whole life insurance — Whole Life Insurance, or Whole of Life Assurance (in the Commonwealth), is a life insurance policy that remains in force for the insured s whole life and requires (in most cases) premiums to be paid every year into the policy. Contents 1 History… … Wikipedia
whole-life — ˈwhole life adjective [only before a noun] INSURANCE whole life insurance contracts, arrangements etc are ones in which the person whose life is insured pays a fixed sum each year, and the insurance company pays out a sum when that person dies: • … Financial and business terms
whole-life insurance — /ˌhəυl laɪf ɪnˌʃυərəns/, whole life policy /ˌhəυl laɪf ˌpɒlɪsi/ noun an insurance policy where the insured person pays a fixed premium each year and the insurance company pays a sum when he or she dies (also called ‘whole of life assurance’) … Dictionary of banking and finance
whole life insurance — see life insurance Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. whole life insurance … Law dictionary
whole-life insurance — noun A life insurance policy on which premiums are payable up to the death of the insured person • • • Main Entry: ↑whole … Useful english dictionary
whole life insurance — Insurance In*sur ance, n. [From {Insure}.] [1913 Webster] 1. The act of insuring, or assuring, against loss or damage by a contingent event; a contract whereby, for a stipulated consideration, called premium, one party undertakes to indemnify or… … The Collaborative International Dictionary of English
Whole Life Insurance Policy — A life insurance contract with level premiums that has both an insurance and an investment component. The insurance component pays a stated amount upon death of the insured. The investment component accumulates a cash value that the policyholder… … Investment dictionary
whole life insurance — A form of life insurance that applies part of the premium payments to build an investment or savings value for the policy owner. The investment or savings value is called the cash surrender value of the policy. American Banker Glossary A contract … Financial and business terms
whole-life — adjective Date: 1845 of, relating to, or being life insurance with a fixed premium for the life of the policyholder and a cash value that can be redeemed on sale of the policy or can be the basis of low interest loans … New Collegiate Dictionary
