Voya Variable Universal Life — CV — With this policy, there are 55 + different investment options; allowing the policy holder to build
substantial cash value for supplementing retirement income, paying college tuition, paying off debt, or building funds for any other reason that they see fit.
In both cases, shareholders could stand to reap potentially substantial upside derived from the monetization of Avigen's remaining assets and could finally stop worrying about whether the Company will destroy
its substantial cash value.
Just like whole life policies, you can borrow against your cash value (provided
a substantial cash value has been accrued).
Whole life on the other hand is a permanent form of life insurance that offers lifetime protection with the additional benefit of accumulating
a substantial cash value.
It takes a long time to build
any substantial cash value in a universal life insurance plan; usually a minimum of 15 years.
So, it will take a while before you accumulate
any substantial cash value.