Question

of the following, which one is the most positive feature of whole life insurance for a person who wants a more structured way to save?

Answer 1

The best aspect of whole life insurance for someone looking for a more organized way to save is that it grows cash value.

What does a life insurance cash value mean?

Everlasting life insurance policies frequently incorporate a savings feature called cash value. The cash value might increase over time at either a flexible interest rate, depending on your specific policy. Through a life insurance loan, you can take out a loan against the cash value of your policy.

How quickly does cash value in life insurance grow?

Usually, it takes two to five years for a life insurance policy's cash value to begin to increase. Once it has grown, you can typically access it in accordance with the terms of the policy. You can only get the cash value of your coverage while you're still alive.

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