In addition to death benefits, what can life insurance policies provide?

Life insurance policies, particularly whole life and universal life, offer the potential for cash value accumulation. This cash value is a portion of the premiums paid that builds up over time and can be accessed by the policyholder through loans or withdrawals. The cash value grows at a specified rate, which might be linked to the performance of an underlying investment, depending on the type of policy. This feature provides an additional benefit beyond the primary function of providing a death benefit, making it an attractive option for those looking for both protection and a savings component within the same product.

In this context, while there are various features associated with life insurance, the cash value accumulation is a significant benefit that enhances the policyholder's financial flexibility and long-term planning.