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Whole life insurance |
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Whole life insuranceIn the US, a life insurance policy, with level premiums, which provides a stated benefit on the death of the life insured and a savings element which accumulates a cash value. The dividends or interest are allowed to build up tax-deferred. The insured is able to redeem the cash value or borrow against it in what is known as a policy loan. Any part of a loan which is unpaid at the death of the insured is deducted from the face value.Similar MatchesInsuranceInsuranceA contract in which payment of premiums covers the insured against something which may, or may not occur. For example motor insurance covers the insured against accidents which may occur. In the UK insurance is differentiated from assurance (life assurance) which is protection against something which will inevitably occur. Non participating life insurance policyNon participating life insurance policyLife insurance which does not participate in the profits of the insurance fund. Municipal bond insuranceMunicipal bond insuranceIn the US, an insurance policy which guarantees a mutual bond in the case of default, issued by private insurers. Private Mortgage Insurance (PMI)Private Mortgage Insurance (PMI)Policy protecting the holder against loss resulting from default on a mortgage loan. Cash value life insuranceCash value life insuranceA life insurance policy which pays a benefit on the death of the insured but which also provides a savings element where benefits are payable before death. Further Suggestionsdeposit insurancelegal expenses insurance personal accident insurance insurance policy Insurance policy insurance premium Contents insurance Federal Deposit Insurance Corporation executive insurance Social Security Disability Income Insurance Buildings insurance Savings Association Insurance Fund (SAIF) contents insurance Guaranteed renewable policy insurance casualty insurance Federal Insurance Contributions Act Private Medical Insurance variable life insurance Nonparticipating life insurance policy Mortgage payment protection insurance (MPPI) Multiple peril insurance Mortgage Insurance Credit insurance social security disability income insurance Insurance broker |
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