Definition: Whole Life Insurance

Term: Whole Life Insurance

Definition:A life insurance contract with level premiums that acts as both an insurance policy and an investment vehicle. The insurance component pays a stated amount to a beneficiary upon the death of the insured. The investment component accumulates a cash value that the policyholder can withdraw or borrow against.

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Course	Page Number
50 - Employee Life and Disability Insurance	4

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Whole Life Insurance