Business, Legal & Accounting Glossary
A life insurance policy which in addition to providing a benefit upon the death of the policy holder, also accumulates cash value over time enabling benefits to be paid out before death. The three main types of cash value insurances are: whole life insurance, variable life insurance, and universal life insurance. Term life insurance is not a type of cash value insurance.
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This glossary post was last updated: 20th November, 2021 | 0 Views.