How does whole life insurance work?

How does whole life insurance differ from term life insurance? Whole life insurance is designed to provide coverage on the insured for the insured's entire life as long as premiums are paid and the policy has not been surrendered. read more

Whole life insurance is designed to provide coverage on the insured for the insured’s entire life as long as premiums are paid and the policy has not been surrendered. read more

Whole Life Insurance is designed to provide coverage for the life of the insured. Whole life policies generally offer fixed premiums, guaranteed death benefits and are designed to build tax deferred cash value. For that reason, a whole life insurance policy can be described as providing life insurance protection with a savings feature. read more

Whole life typically costs 3 to 5 times as much as term insurance for the same dollar amount of coverage, according to Money Crashers. However, many traditional whole life policies charge level premiums, which are guaranteed never to change. read more