# Whole Life Insurance

*Insurance — Finicade finance glossary*

Whole life insurance combines lifetime cover with a savings component that builds cash value, at five to fifteen times the cost of comparable term cover.

Whole life insurance combines lifetime cover with a savings component that builds cash value, at a premium typically five to fifteen times a comparable term policy. The returns inside are modest after the cost of insurance and commissions, especially in the early years when cash value is near zero. It has genuine uses — estate liquidity, a permanently uninsurable dependant — and is very widely sold to people who fit neither.

**Also known as:** whole of life, permanent life insurance, cash value life insurance

**Related terms:** [Term Life Insurance](https://finicade.com/glossary/term-life-insurance), [Cash Value](https://finicade.com/glossary/cash-value), [Surrender Charge](https://finicade.com/glossary/surrender-charge), [Universal Life Insurance](https://finicade.com/glossary/universal-life-insurance), [Insurance Premium](https://finicade.com/glossary/insurance-premium)

Source: https://finicade.com/glossary/whole-life-insurance