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Which of the following types of life insurance has a cash value component


Permanent life insurance (i.e., whole life and universal life) provides life-long coverage with a cash value component that can help with many objectives, like helping to build your retirement nest egg while providing protection for life and other financial benefits along the way.

What type of life insurance has a cash value?

Universal life insurance is also referred to as "flexible premium adjustable life insurance." It features a savings element (cash value) that grows on a tax-deferred basis. The insurer invests a portion of your premiums.

What insurance policies have a cash value?

The cash value feature is included on permanent life insurance types like whole life and universal life. Since final expense life insurance is a type of whole life, it can also have cash value and can be a more affordable option for obtaining a policy with cash value.

Which type of life insurance typically has a cash value quizlet?

Universal Life is a type of Whole Life insurance and is sometimes referred to on the exam as "interest sensitive" whole life. Universal Life policies have a cash value with a minimum guaranteed interest rate and an excess current interest rate.

What is cash value life insurance?

BREAKING DOWN 'Cash Value Life Insurance'. Whole life, variable life, and universal life insurance are examples of cash value life insurance. As the cash value increases, the insurance company's risk decreases as the accumulated cash value offsets part of the insurer's liability. For example, consider a policy with a $25,000 death benefit.

What are the two types of life insurance?

The two types of life insurance are term and permanent life insurance policies. A term life insurance policy is temporary and only covers you for a set period of time, usually between five and 40 years. A permanent life insurance policy covers you for your entire life and builds cash value over time. What are the different types of life insurance?

What happens to the cash value of a whole life policy?

The problem with the cash value build up of a whole life insurance policy is that the money can only be used to pay off the policy or buy additional insurance. (true/false)




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