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What is a cash value life policy?

April 26, 2017cash life policy value

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What is a cash value life policy?

1 Answer

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10 Posted

A cash value life policy covers you for your lifetime. “Cash value” means that premiums generally stay level during the premium payment period. The policy not only provides insurance benefits when you die, but it also builds up a dollar value from your premium payments and investment returns. You can borrow against this value with a policy loan or redeem it for cash at any time before the policy matures. Whole life, universal life and extra value life are some of the more popular forms of cash value life policies.