Distinguish between whole life policy and endowment life policy.

Answer»

Differences whole life policy and endowment life policy:

Whole life policy	Endowment life policy
1. In the case of an endowment policy, the period of the policy is definite or fixed.	1. In the case of a whole-life policy, the period of the policy is indefinite.
2. The rate of premium for an endowment policy is more	2. The rate of premium for a whole-life policy is less.

Discussion