1. 15786 POINTS
    Bob VineyardPRO
    Founder, Georgia Medicare Plans, Atlanta,GA
    The cash value of your life insurance policy is actually a reserve build up inside the policy. Most permanent life insurance plans accumulate cash reserves that can be borrowed by the policy owner.

    Cash value policies also have surrender values and maturity or endowment values. If you decide to surrender your policy the carrier will send you a check representing the accumulated cash value of your policy and, in some cases, a termination dividend.

    If you keep the policy long enough until it endows, usually at age 100, the policy is surrendered by the carrier and a check for the maturity value of the policy.
    Answered on April 11, 2013
  2. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    The cash value of a life insurance policy is the amount of cash that you would get if you surrendered your policy (let it lapse or cancelled it). It is also available to borrow from. Term life insurance does not have cash value; only permanent policies such as Whole or Universal Life have cash value.
    Answered on November 6, 2013
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