Final expense insurance does allow for a cash value to build because it’s a form of a whole life insurance. For most whole life insurance policies, when you pay your premiums some of that money goes into an investment account. This type of insurance policy builds a cash value over time, so you may borrow from it or use it as collateral during your lifetime. In addition to that, the premium amount never changes, which can be helpful for budgeting… Read more.
The good thing to have a life insurance policy with cash value is that you have several options for extracting value from it while you’re still alive,” said Juan Carlos “JC” Doitteau, President at Insurance Pro.