Whole Life Insurance is a type of permanent life insurance policy which guarantees a death benefit for life as long as the guaranteed level premiums are paid.
Over time, Whole life insurance builds equity in the form of cash value which basically takes the risk off the insurance company. This is what keeps the premiums from increasing as you get older. Cash Value in a whole life insurance policy is also great for living benefits.
If you’re new to whole life insurance we recommend starting with How Whole Life Insurance Works.