Cash value refers to the amount of money a policyholder is entitled to receive upon the cancellation of a life insurance policy or the amount available for loans and withdrawals before the policy matures or is cashed out.
A split-dollar life insurance policy is a strategy in which the premiums, ownership rights, and death proceeds are divided between an employer and an employee, or a parent and a child. This type of policy can be a useful tool for providing benefits while sharing costs and risks.
Variable Life Insurance is a type of life insurance policy where the face value and death benefit can fluctuate based on the performance of investments chosen by the policyholder. The value can increase or decrease but never falls below a guaranteed minimum.
