Which Type of Cash Value Life Insurance Is Right for You?

Not all cash value life insurance policies are created equal. In fact, there are a few main types — each with its own pros, cons, and growth potential. Understanding the difference is key to choosing the one that fits your goals.

Which Type of Cash Value Life Insurance Is Right for You?

1. Whole Life Insurance

   This is the most straightforward option. It offers fixed premiums, guaranteed death benefit, and guaranteed cash value growth. You’ll always know what to expect — which makes it a great option for someone who wants stability and simplicity.

2. Universal Life Insurance

   This option gives you more flexibility. You can adjust your premiums and death benefit over time. The cash value grows based on interest rates, which may be higher than whole life — but not guaranteed. It’s ideal for people who want room to adjust their policy as life changes.

3. Variable Life Insurance

   Variable life gives you investment options. Your cash value is tied to sub-accounts that work like mutual funds. That means you could grow your money faster — but it also means more risk. It’s a better fit for someone comfortable with market ups and downs.

All of these policies come with cash value growth and lifelong coverage, but how they grow — and how much flexibility you have — can vary a lot. The best way to know which one fits your lifestyle and financial plan is to talk it through with a professional.

Let’s find the right balance of security, growth, and flexibility — together.

📍 Chris Jacobson | Vision Insurance Group LLC, Yankton, SD📞 (605)635-3877