Excess premiums, after the company deducts its fee and a monthly cost for the term coverage, are deposited in the cash value account where they earn a valuable rate of interest. Accumulated cash values are held in a separate account where they may be invested in different portfolios of stocks, bonds, or commercial paper. Whole Life Insurance - Life insurance protection that extends from policy issue to the death of the insured, or by age 100, whichever comes first. A whole life policy has fixed premium payments, a fixed death benefit and cash value accumulation. These insurance services are available only to residents of New York and Pennsylvania.
Insurance policies are obligations of the insurers that issue the policies.
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