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While the death benefit on a life insurance policy can be used for a variety of purposes, today’s cash value life insurance policies can be structured for taking care of a number of additional financial needs.

Due in large part to the tax-advantaged status of these plans, cash value life insurance can be used for providing you peace of mind during your lifetime, too – provided that the right type of policy is purchased for the needs you have in mind.

Local Life Agents know exactly how to maximize cash value policies by finding which life company can offer the lowest cost of insurance and the most aggressive rate of return. If your goal is growing cash value then you’re going to want our help.

Types of Cash Value Life Insurance Policies

There are different types of cash value life insurance policies. When looking at the two primary categories of life insurance – term and permanent – permanent policies. Term policies do not build cash value. Within the permanent policy category, there are:

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How Do Life Insurance Policies Build Cash Value?

The cash value within a life insurance policy can accumulate somewhat differently – depending on the type of policy that you own.

Overall, however, when a premium payment is made into a permanent life insurance policy, a portion of the premium will be put towards the policy’s death benefit. Another portion will go towards the policy’s cash value.

Over time, as the policyholder continues paying premiums, the cash will earn more interest, in turn allowing the cash to grow throughout the years.

In addition, because the cash value is allowed to grow on a tax-deferred basis, it can compound even faster than a taxable savings vehicle. This is because there is no tax due on the gain until the time it is withdrawn – therefore allowing gains to be earned on top of gains.

Advantages of owning a permanent cash value life insurance policy

There are a number of benefits to owning a cash value life insurance policy – especially after a sizeable amount of funds has built up inside the cash component. These can include:

  • Paying the policy’s premium
  • Supplementing retirement income
  • Building up additional savings
  • Withdrawing funds for paying off high-interest debt
  • Borrowing funds, often at a lower interest rate than that offered by banks or mortgage companies

When deciding on the best cash value life insurance policy for your needs, working with an independent agent is often the most sensible way to go. This way, you will be able to directly compare a variety of policies, benefits, and premiums from multiple insurers and then determine which of these will work the best for you and your specific needs.

If you’re ready to move forward and see how your life insurance can be used for more than just a tool for protecting loved ones in the future, contact us.

The King of Cash Value Life Insurance –

While many people may realize that there is a difference between term and permanent life insurance, few may know what actually separates one type of cash value policy from another. They also don’t know which type of policy offers the best life insurance with cash value?

However, knowing which policy to choose can make a substantial difference in not only your life insurance planning but also with regard to other key financial benchmarks, including:

  • Retirement income
  • Payoff of debt
  • Taxes
  • Overall future lifestyle

For instance, even though whole life and universal life insurance both provide permanent life insurance with cash value as a death benefit component to the policyholder, these plans are significantly different in many ways.

With universal life insurance, the policyholder can actually “adjust” the death benefit (within limits), without the need to purchase a new, separate policy. This can help in reducing the cost, as well as simplifying the process of changing the policy holder’s coverage.

What Makes Universal Life the best Cash Value Policy?

What can really make universal life (UL) insurance so flexible and versatile is the fact that because the premium can be geared to pay for only the cost of insurance in the death benefit component, the remainder can fall into the cash value – allowing that portion of the policy to grow exponentially as compared to a whole life insurance plan. You can also add an enhanced liquidity rider to have immediate cash value accumulation to borrow against.

Because of this, universal life insurance can be used in a variety of different financial planning situations, such as:

  • Mortgage Payoff – By accessing the cash value via a surrender or a policy loan, a universal life insurance policyholder can pay off large debts such as their mortgage while he or she is still living.
  • Supplement to Retirement Income – Likewise, the non-taxable nature of universal life insurance policy loans has also been used as a source of supplemental retirement income for those who may need more than what they’re receiving from their pension and/or Social Security.

Why Consider Universal Life?

There are a number of reasons why a universal life policy may be a better alternative when considering cash value life insurance options, such as:

  • Flexibility – Universal life insurance is flexible. With this type of coverage, the policyholder may, within certain limits, decide when to pay the premium, as well as how much of that premium to put towards the death benefit and how much to put into its cash value.
  • Tax Advantages – Because the cash value in a universal life insurance policy can grow on a tax-deferred basis, it means that the gain on these funds will not be taxed until the time of withdrawal – and this means that over time, the cash can grow significantly without being subject to taxation.
  • Guarantees – Universal life is more flexible than its whole life alternative, and these plans will also offer certain guarantees such as a minimum rate of interest.
  • Get immediate cash value with enhanced riders.

An index universal life insurance policy is another way to supercharge your cash value growth. You can learn in detail about IUL policy options here. No matter what we can help you find the best cash value policy.


Hopefully, after reading this you have a good understanding of what cash value life insurance is and how it can help. The next step is to get illustrations to see how this type of policy can help you.