The Savage Truth on Cash Value Life Insurance

While term insurance is the least expensive, and designed to cover your insurance needs for the next 20 or 30 years, there are some instances in which it makes sense to buy more “permanent” life insurance. That type of insurance is variously called whole life or cash value life insurance. It is not easily purchased online because of its complexities. Some variations of whole life include universal life and variable universal life.

Each has its own strengths and potential pitfalls, which is why these policies are “sold,” not purchased. You’ll probably be dealing with a registered insurance agent for this type of insurance. But you definitely need to understand the basics so you can ask the right questions.