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.
¡ª Also termed ordinary life insurance; straight life insurance. Cf. term life insurance.
What is the preferred translation of the term whole life insurance by Chinese lawyers?
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