• Permanent life insurance policies, such as life insurance or universal life insurance, can accumulate monetary value over time.

  • Life insurance with cash value is more expensive than term life insurance.
  • Unlike term life insurance, cash insurance policies do not expire after a set number of years.
  • Policyholders can take out a life insurance policy loan with a cash value.
  • They can also withdraw cash from the policy, but this will also tend to reduce the death benefit.