What Are Some Characteristics Of Whole Life Insurance? 
A whole life policy provides a level death benefit for a level premium over the entire life of the individual . Most whole life policies actually endow and return the face amount at a given age . Whole life insurance provides the cheapest life insurance available for one reason . It is in force when death occurs . The percentage of claims paid on term policies is understandably quite low . The problem with whole life is that the premium required might cause a person to purchase less than an adequate amount of life insurance . A combination of whole life and term insurance can usually maximize coverage and minimize cost . 