Traditional cash value life insurance, usually called ________ insurance, has a guaranteed buildup of cash value based on the general account portfolio of the insurance company.

Question

Quizplus · Accepted Answer

Traditional cash value life insurance with a guaranteed buildup of cash value is called whole life insurance. Term life insurance does not build cash value, and guaranteed life insurance is a specific type of policy for people who may not qualify for other types of coverage. Cash value life insurance is a broader category that includes whole life, as well as other types of policies such as universal life and variable life, which may not have a guaranteed cash value buildup.

Traditional Cash Value Life Insurance, Usually Called ________ Insurance, Has