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Whole Life Insurance is a life insurance policy which is guaranteed to remain active for the insured’s lifetime. Premiums will be fixed, based on the age of issue, and usually does not increase with age. Normally you will pay premiums until death, except for limited pay policies, which may be paid in up to 10 years, 20 years, or at age 65. Whole life insurance belongs to the cash value category of life insurance.
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