There are a few different types of life insurance policies that have a cash value component. Whole life insurance is the most common type of policy that has a cash value. Universal life, indexed universal life, and variable universal life are also types of policies that have a cash value.
The cash value of a life insurance policy is the money that the policyholder can borrow against or withdraw from the policy. The cash value grows over time, and the policyholder can use it for any purpose.
Whole life insurance is the most common type of policy that has a cash value. Universal life, indexed universal life, and variable universal life are also types of policies that have a cash value.
The cash value of a life insurance policy is the money that the policyholder can borrow against or withdraw from the policy. The cash value grows over time, and the policyholder can use it for any purpose.
Whole life insurance is a type of permanent life insurance that remains in force for the insured’s entire lifetime, as long as premiums are paid as required. Because whole life insurance policies are designed to last a lifetime, they accumulate a cash value over time. The cash value is the portion of the policy that the policyholder can borrow against or withdraw.
Universal life insurance is a type of permanent life insurance that offers flexibility in both the premium payment schedule and the death benefit. Universal life policies also accumulate a cash value over time, which the policyholder can borrow against or withdraw.
Indexed universal life insurance is a type of permanent life insurance that offers the death benefit protection of whole life insurance, with the added benefit of cash value growth that is linked to the performance of a stock market index. Like other types of universal life insurance, indexed universal life policies also offer the policyholder the flexibility to make changes to the premium payment schedule.
Variable universal life insurance is a type of permanent life insurance that offers the death benefit protection of whole life insurance, with the added benefit of cash value growth that is linked to the performance of a portfolio of investment assets. Variable universal life policies also offer the policyholder the flexibility to make changes to the premium payment schedule.