Term life insurance is not included in the following discussion of cash value life insurance for the simple reason that it does not build cash value, although some term insurance policies with ROP riders offer
small cash accumulation.
While there are slightly more details you should understand before buying a universal contract, understand its components are much like term, with the addition of
a small cash accumulation.
Not exact matches
Particularly when we are focused on a death benefit, rather than
cash value
accumulation, a relatively
small sum of money can purchase a large death benefit.
Whole Life: A
Cash Value Life Insurance policy is one that has an «investment» side component that will build up a
small accumulation after a decade or so.
Particularly when we are focused on a death benefit, rather than
cash value
accumulation, a relatively
small sum of money can purchase a large death benefit.