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What is a whole life policy?

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Wiki User
10/09/2007

It is life insurance that you will have for your entire life. A side benfit of whole life is it builds a cash value much like a savings account. It is more costly than tem in the beginning but far more cost effective later in life. Term insurance is the Cash Cow for insurance companies. Only 2% of term policies sold ever pay a death benefit. Think about it! You are going to die someday. With or without insurance? 4lifeguild