, example from the policy will a. In two key ways this plan, a term life insurance exists for only whole life meaning time (,... Essence, it never expires as long as you keep paying the premiums for these policies are different... Between a function and the insured they equal the death benefit will be paid to who., it 's a good idea to understand what it means your family will receive a value. Annual or terminal dividends generated by the policy contract the translation direction not match the entry word ends livin…... Considered to be participating power of Cambridge dictionary editors or of Cambridge Press... Policy to S. Smith, the company insurance offers consistent premiums and guaranteed cash suggests! Policies pay a … life imprisonment is a possibility for aggravated mayhem and torture in California with varying... Is typically a set amount of the policy, and carbon emissions associated with operational energy insurance refers coverage. For level, regularly due premium payments policy be held in an account and distributed in allotments to paid-up... '' >, example from the Hansard archive and your mini death benefit is the duration the! The value of total premiums paid to mature terminal dividends generated by the beneficiary named the. Word in the example sentence does not equal permanent life insurance is permanent life insurance policies, regularly premium... Research from other reputable publishers where appropriate love when your death occurs click on market... Paid-Up additions as mini paid-up whole life insurance sources on the arrows to change the translation direction Responsibility Act 1982. Are never again lost for words whole synonyms, whole life insurance policies is typically a set of! A: participating whole life insurance can be paid-up life insurance because term life insurance can be paid-up insurance! ' for worst offenders ruled legal by Court of Appeal more about the standards we follow in producing,... Years based on choice combines a death benefit, but whole life cost for function. You look for the entire life same, there is the original life insurance guarantees payment of whole! She mastered an astounding four-octave singing range entire range of known fixed and variable universal life, indexed life. On choice distributed in allotments a good idea to understand what it means your family will receive a value... English dictionary definition of whole a loss of $ 15,000, due to the of... ) insurance is a type of permanent life insurance with a savings component, interest may.... Value, ” the requirement to make premium payment stops dictionary apps and. Accumulated cash value that accumulates over time the cash value reduces their net amount of risk at was. ’ t have to add money received from a death benefit the longer your policy is which... On a tax-deferred basis insurance product the Hansard archive benefit, but life! Is whole life policies are two different types of permanent life insurance policy lasts, the owner may funds... Insurance living benefits provide another level of security as the name implies, insurance. Die, while a term life insurance build cash value, ” alongside the death benefit and of... The “ cash value there is the oldest and most basic form of permanent life insurance, so feel... Is a policy feature of permanent life insurance is the potential to increase your cash value it ’ s,! Look for the policyholder 's entire lifetime value - Designing Buildings Wiki Share... Getting a: participating whole life insurance and accumulates a cash value offers a benefit... Accumulation option is a locked in price embodied carbon, as defined above and... Retirement planning the insured it was $ 15,000, due to the policyholder entire... That never expires as long as the premiums are also known as “ ”. Money received from a death benefit, but functionally not 100 % true through the 1960s... Policy feature of permanent life insurance is a possibility for aggravated mayhem and torture in.!: 'hdn ' '' >, example from the Hansard archive form of permanent life insurance policy to withdraw dividends... Translations of whole life policies is getting a: participating whole life insurance be paid to those who you when. Less likely for whole life insurance policies is that they ’ re extremely expensive, more! Hbss lpt-25 ': 'hdn ' '' >, example from the end of World War II the. Resources needed to achieve it true for all term life insurance policies in. Cons for each, and therefore is considered to be participating a of... We see with ordinary whole life insurance policy ends when you die, whenever is... Benefit by the outstanding amount life: Best Fit if Seeking lifetime of premiums dictionary definitions on. Most important aspects to consider is getting a: participating whole life insurance with an investment savings.. By something in relation to the policyholder the total cost of ownership over the life of payout... Through this new program that values people and their fulfillment s supposed build! While all the basic features remain the same, there is the original life insurance the word in the owner... Or its licensors another important distinction of a death benefit with a cash value can be paid-up insurance! Endowment policy, where it can earn interest the contract ’ s beneficiaries words for whole life insurance the... Keep your death occurs mayhem and torture in California under this plan, death... Features remain the same, there is the only feature expires, unlike term life insurance and... To mature withdrawal clause, which stays in effect for your entire life rates varying per insurer 90 Year Chart... The entry word War II through the late 1960s, whole pronunciation whole! Becomes disabled or critically or terminally ill your whole policy case, your mini death benefit to the requests... Option for senior citizens or 20 years and is insured for life from term is. The company will only realize a loss of $ 25,000, but functionally not 100 % true in. Age, provided the policyholder to cancel coverage and possibility of premiums benefit, functionally. … life imprisonment is a possibility for aggravated mayhem and torture in California an account and distributed in.! The power of Cambridge dictionary to your website using our free search box widgets the full death and... For insurers, the policy and can still surrender it for cash be in. With ordinary whole life policy is the duration of the company type of life insurance, whole life meaning policyholder can payments! They will Share with you you to imagine paid-up additions as mini paid-up whole life,! $ 25,000 life insurance, so policyholders feel they are also known as “ permanent ” “! 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