Which provision allows for cash value to be accessed while the policy remains active?

The ability to access cash value while the life insurance policy remains active is facilitated by the loan value provision. This provision allows policyholders to borrow against the cash value accumulated in their policy without surrendering the policy itself. When a loan is taken from the policy, it does not impact the death benefit or the continued coverage as long as repayments are made in a timely manner.

The funds accessed through this loan can be used for various purposes, such as emergencies or large purchases, providing policyholders with flexibility and financial options while keeping their life insurance coverage in force.

The cash surrender value pertains to the amount a policyholder would receive if they decided to terminate the policy, rather than accessing the cash value while it remains active. The automatic premium loan is a feature that allows the insurer to automatically use the loan value to cover premiums if they are not paid, rather than providing direct access to cash. Paid up additions refer to additional life insurance that can be purchased using dividends, but it does not directly provide access to the cash value.

Understanding the loan value provision is essential for navigating the financial aspects of a life insurance policy effectively.