04/30/2025
Curious about the cash value on a life insurance policy? 💰
If you get a “whole life” or a “universal life” insurance policy, you’ll have what’s called “cash value” which is more than just the death benefits.
Think of the cash value as a savings account built into your life insurance. As you pay your monthly premiums, a portion of that goes towards the cost of insurance, and a portion goes into that cash value account that will grow over time.
Here is what you can do with the Cash Value:
- Borrow from it (like a low-interest loan)
- Withdraw it (some limits apply)
- Let it continue to grow & even help pay premiums later
Have questions about how it works or whether your policy builds a cash value? Send me a message! 💗