Noun: whole life insurance
- Insurance on the life of the insured for a fixed amount at a definite premium that is paid each year in the same amount during the entire lifetime of the insured
"He opted for whole life insurance for its guaranteed death benefit and cash value accumulation";
- ordinary life insurance, straight life insurance
Derived forms: whole life insurances
Type of: life assurance [Brit, Cdn], life insurance [N. Amer]
Encyclopedia: Whole life insurance