Which policy provides a guaranteed death benefit and cash value accumulation?

Whole Life Insurance is a type of permanent life insurance that guarantees a death benefit and also includes a cash value component. This cash value grows at a predetermined rate set by the insurer, and policyholders can access it through loans or withdrawals during their lifetime.

One of the key features of Whole Life Insurance is its stability; the death benefit remains constant as long as premiums are paid. Additionally, the cash value accumulates over time and can be used for various financial needs, while also providing policyholders with the security of a guaranteed payout to beneficiaries upon death.

In contrast, Term Life Insurance solely provides a death benefit without any cash value accumulation, making it purely a protective measure for a specified term. Universal Life Insurance allows for flexible premiums and death benefits and includes a cash value component, but the cash value growth may vary based on certain interest rates. Variable Life Insurance includes investment options tied to various accounts, which can impact cash value and death benefits due to market performance, adding a level of risk not present in Whole Life Insurance.

Thus, Whole Life Insurance stands out as the option that guarantees both a death benefit and a secure cash value accumulation.