An introduction to Whole life insurance
Whole life insurance is also called as cash value insurance or permanent life insurance or straight life insurance. It provides coverage for the entire life as long as the premiums are being paid. These premiums are decided at a fixed rate. Further, the insurance company invests some part of the premiums and creates a savings account or cash value that gradually accrues and is tax deferred. This cash value can be withdrawn or borrowed. However, such a
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