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

法律翻译Iris，毕业于一所旨在培养高级翻译专业人才的翻译院校，专注翻译各类与资本市场有关的法律文件。