Cash value is an important component of whole life,universal life,and variable life but is never a component of term life insurance.

Question

Quizplus · Accepted Answer

Cash value is a feature specific to permanent life insurance policies such as whole life, universal life, and variable life. Term life insurance does not have cash value, as it is designed to provide coverage for a set period of time and does not accumulate any cash value over time.

Cash Value Is an Important Component of Whole Life,universal Life,and