In addition, dividends are typically paid on whole life contracts and can be used to either increase the death benefit or reduce the premiums. (us.axa.com)
You may have heard about a modified premium whole life contract, but may not fully understand how it works or why it is different compared to traditional life policies. (secureseniorlifeinsurance.com)
Whole Life contracts run for the whole of the policyholder's life and accumulate a monetary value which is paid out when the contract matures or is surrendered. (allinsuranceinfo.org)