Sentences with phrase «covers a policy holder until»
Since whole life insurance covers a policy holder until death (or as long as the premiums are paid), there are no renewals.
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The insurer may offer to continue the insurance cover, if so opted for by the policy holder, levying appropriate charges until the fund value is not less than one full year's premium.
Unlike term life insurance, which covers the contract holder until a specified age limit, a traditional whole life policy never runs out.