What Does Straight Whole Life Insurance Mean?

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What does Straight Whole Life Insurance mean? Read on to discover the definition & meaning of the term Straight Whole Life Insurance - to help you better understand the language used in insurance policies.

Straight Whole Life Insurance

Straight Whole Life Insurance

An annuity or other insurance plan that provides the policyholder with monthly payments for the remainder of his/her life. After death, however, the payments cease, and the policyholder does not name a beneficiary. Like all annuities, one may buy the plan with a lump sum or with a series of payments over a number of years, usually ending around retirement.

We hope the you have a better understanding of the meaning of Straight Whole Life Insurance.

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