MLchartDataset catalogue

Ordinary life

Term · Insurance and risk management · MLC-T-INS-003706

A type of whole life insurance policy that provides coverage for the entire lifetime of the insured, with premiums payable throughout the policyholder's life. It accumulates cash value over time, which the policyholder can access through loans or withdrawals. This contrasts with term life insurance, which covers a specific period and does not build cash value.

Table 1. Record
IdentifierMLC-T-INS-003706
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-003706",
  "term": "Ordinary life",
  "field": "Insurance and risk management",
  "definition": "A type of whole life insurance policy that provides coverage for the entire lifetime of the insured, with premiums payable throughout the policyholder's life. It accumulates cash value over time, which the policyholder can access through loans or withdrawals. This contrasts with term life insurance, which covers a specific period and does not build cash value.",
  "url": "https://mlchart.com/terminology/insurance/ordinary-life/"
}

Record 2,406 of 3,682 in Insurance and risk management terminology (MLC-0106). Request the full dataset.