The problem with the cash value built up in a whole life insurance policy is that the money can only be used to pay off the policy or buy additional insurance.

Question

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The cash value in a whole life insurance policy can be used for various purposes, not limited to paying off the policy or buying additional insurance. Policyholders can borrow against the cash value for any reason, such as paying for education, making a major purchase, or as a retirement supplement.

The Problem with the Cash Value Built Up in a Whole