whole life insurance

Life insurance that covers an insured for life, during which the insured pays fixed premiums, accumulates savings from an invested portion of the premiums, and receives a guaranteed benefit upon death, to be paid to a named beneficiary.

• Such a policy may provide that at a stated time, premiums will end or benefits will increase.

— Also termed ordinary life insurance; straight life insurance. Cf. term life insurance.

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词条贡献者

资深译员Lynn，知名国际商学院金融专业，专注翻译各种与贷款人责任及其他银行业与金融机构诉讼有关的法律文件。