Whole life insurance is a type of insurance policy that provides coverage for the entirety of a person's life, as long as they continue to pay the premiums. It is also sometimes referred to as permanent life insurance, given its lifelong coverage. Other synonyms for whole life insurance include cash value life insurance, traditional life insurance, universal life insurance, and permanent cash value insurance. These terms may be used interchangeably depending on the insurance company or policy, but all generally refer to the same type of policy that provides coverage for the duration of a person's life. Regardless of the synonym used, whole life insurance can offer peace of mind and financial protection to policyholders and their loved ones.