What Is The Definition Of Whole Life Insurance?

Whole life insurance is a type of policy that covers you for your entire life. Most policies stay in effect until age 90 or 100. Whole life insurance builds up cash value over time and can be used as collateral.

Term life insurance is different than whole life because it is only good for a certain period or “term” of time.
Whole life insurance is a type of policy that covers you for your entire life. Most policies stay in effect until age 90 or 100. Whole life insurance builds up cash value over time and can be used as collateral. Term life insurance is different than whole life because it is only good for a certain period or “term” of time.