The whole life insurance provides coverage for the entire lifetime of the insured and the cash value component grows over time and that can be borrowed against or withdrawn.It offers lifelong protection and can be a part of a comprehensive financial plan.
For example ,if a 20 year old takes a whole life plan at the age of 20 years, he will receive a lump sum payment at age of 40, the age at which is 20 year premium payment term will expire. He can use this money for his retirement and also his cover will continue till he turns 100 or till the date he dies. The whole life insurance is for your entire life time-life long protection.
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ANTO JOSEPH-CEO
NPN 19620488