What Is Straight Life Insurance? 
The term straight life insurance is kind of a slang term with whole life insurance . The whole life insurance is set up near a minimum premium level calculation that takes the cash value from the whole life to pay premiums in later years to level your premiums for your lifetime . In other words , it is making a lifetime term life insurance policy out of a whole life insurance policy . The concept is to keep your premiums the same for your lifetime for the same face amount . 