Why Have a Cash Value Policy?
If you plan to have a life insurance policy in place for your entire life, this is probably a good option. Whether it’s whole, universal, or variable will be a choice you’ll have to make. The cash value portion can be used to pay premiums later in life, and the death benefits can be used for burial expenses or estate taxes. On the other hand, you may decide – or circumstances may predict – that you no longer need a policy. If you have reached a certain age or face a life-threatening illness, then a Senior or Viatical Settlement could be an option for consideration.
