insurance on the life of the insured for a fixed amount at a definite premium that is paid each year in the same amount during the entire lifetime of the insured

(See Whole Life Insurance.)

Another name for ordinary or whole-life insurance, it has two things combined into one policy: life insurance coverage and cash accumulation. Each premium paid funds both aspects. p 155

Whole life insurance on which premiums are payable for life.

Permanent life insurance payable on the death of the life insured whenever that occurs. Premiums are payable until the death of the life insured.

permanent life insurance payable on the death of the life insured whenever that occurs. Page 367

See continuous-premium whole life insurance.