This type of insurance also lasts for life. Some whole life policies require premium payments for only 15 or 20 years. A portion of the premium is assigned to an investment account, from which dividends are regularly paid; the amount depends on the investment success of the insurance carrier. One disadvantage of these policies is that premiums are significantly higher than for term life insurance. On the other hand, premiums do not rise and death benefits are paid out tax-free. Another advantage of whole life policies that require lifelong premium payment is that after 15 or 20 years, the monies in the investment account can pay for the cost of the insurance.