whole-life

whole-life
whole-life ˈwhole-life adjective [only before a noun] INSURANCE
whole-life insurance contracts, arrangements etc are ones in which the person whose life is insured pays a fixed sum each year, and the insurance company pays out a sum when that person dies:

• A whole-life policy could provide protection if a parent dies.

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whole-life UK US adjective [before noun] (also whole-of-life) INSURANCE
used to describe a life insurance agreement with a person in which the insurance company pays money when that person dies: »

They have a joint whole-life insurance policy for £40,000 which pays out when the first one dies.

»

She was sold whole-of-life cover when she didn't need life insurance at all.


Financial and business terms. 2012.

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