Whole Life Insurance

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Whole life insurance is a type of permanent life insurance that guarantees payment of the death benefit to the beneficiaries stated in the policy if the policyholder dies after buying the whole life insurance. Whole life insurance also has a savings component, called cash value, where money grows on a tax-advantaged basis.

For more information, please check out: What is Whole Life Insurance? A Simple Explanation for Kids, Teens & Beginners

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