Life insurance with cash value is a type of life insurance that accumulates cash value over time. The cash value can be borrowed against or withdrawn, and it grows tax-deferred. This makes life insurance with cash value a valuable financial planning tool.
There are many benefits to life insurance with cash value. First, it provides a death benefit to your beneficiaries, which can help to protect them financially if you die. Second, the cash value can be used to supplement your retirement income, pay for unexpected expenses, or fund your children’s education. Third, the cash value grows tax-deferred, which means that you don’t have to pay taxes on the earnings until you withdraw them.
