Sentences with phrase «premium over the entire lifetime»
Continuous Premium Whole Life — Same as Straight or Level Premium Whole life and simply means that the policyholder pays the same premium over the entire lifetime of the policy which is generally to age 100.
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Most permanent life policies require premium payments over the insured person's entire lifetime and do not permit a change in the death benefits, coverage options, terms, or conditions.
You get both the death benefit and the cash value, and typically, the death benefit and premium remains the same over the entire span of the policy, which is carried over during your lifetime.