You can use the cash value to borrow against in the future if you ever need a loan to pay for any emergencies. (burialinsuranceplans.org)
There are a few advantages to this type of coverage, the first being that it never ends and the second being that your insurance company puts aside a portion of your monthly payments into a tax - deferred fund which you can then borrow against in the future. (bankingsense.com)
In addition, you will instantly have 20 % equity in your home, which you can borrow against in the future or get back as part of your profit when you sell. (realtor.com)