Whole Life Insurance
Purchased to cover your entire life as long as the premium is paid and is generally more expensive than term because there is no expiration. This policy will build a cash value.
Whole Life Insurance is a form of permanent life insurance that remains in force for your entire lifetime, provided premiums are paid as specified in the policy.
Guaranteed to remain in force for the insured's entire lifetime, provided required premiums are paid, or to the maturity date. Whole life policies are guaranteed to remain in force as long as the required premiums are paid, Whole life premiums are fixed, based on the age of issue, and usually do not increase with age. Whole life insurance belongs to the cash value category of life insurance