1. Peggy MacePRO
    President and Senior Agent, Outlook Life, Most of the U.S.
    Life insurance that has a cash value is called permanent insurance. Permanent insurance includes all variations of Whole Life and Universal Life. Some policies have lots of cash value; some have little to none. You need to look at the policy carefully when buying permanent life insurance. 

    Term Life insurance rarely has a cash value. Return of Premium (ROP) Term does build up some cash value in the later years of the policy.
    Answered on July 30, 2013
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