Whole Life insurance has both death benefits and a tax sheltered cash value accumulation feature. (termlifeinsurancemales.com)
Cash value life insurance is a type of permanent insurance policy consisting of a «death benefit,» which is a standard part of all life insurance policies, as well as a cash value accumulation feature. (trustedchoice.com)
In addition to paying death benefits, it also has a cash value accumulation feature which grows over the life of the policy. (trustedchoice.com)