![]() ![]() Here’s a breakdown of each type of cash value life insurance. How much it grows really depends on the type of cash value policy you buy, and what its returns are.Įach of these policies works a little differently-and there’s a lot of fine print to wade through. So, you’re paying for two things here-the life insurance part (the bit that covers your family if you die) and the cash value part (the savings account that supposedly grows your money over time). ![]() So, what is cash value life insurance? And what’s the cash value of a life insurance policy? Most importantly, is it worth the effort? We’ll help you cut through the confusion and find the answers you’re looking for.Ĭash value life insurance is a type of life insurance policy that’s in place for your whole life and comes with a sort of savings account built into it. (Definitely not on that giant, skyscraper-size beanstalk level.) That’s because life insurance companies aren’t great at investing and should stick to what they do best: replacing your income when you die. Remember Jack and those magic beans of his? Well, cash value life insurance promises magic beans-like, you know, cash-but it turns out those beans don’t grow into much at all. ![]()
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