Life · Chapter 4 · Whole Life
Whole (Permanent) Life
Definition
Fixed level death benefit + fixed level premium + cash value. Permanent — never needs renewing or converting. Designed to mature/endow at age 100 (cash value = face amount).
Exam tip
If a question just says "whole life," assume straight whole life.
Easy to confuse with
These are what this term gets tested against — if you can't tell them apart cold, drill the contrast.
Related terms