What Does Whole Life Mean In Insurance?

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    Peggy Mace
    Most of the U.S.
    Whole Life means life insurance that lasts the person's "whole life". It is a form of permanent life insurance that puts part of the premium toward pure insurance protection, and part of the premium into an accumulated cash value. If paid on time and loans are repaid, the policy will stay in effect until death at any age, or the face amount can be taken when the policy endows (usually at age 100).
    Answered on July 19, 2013
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