The cash value of a whole life insurance plan grows over time based on a portion of the premium paid and accumulated interest. The cash value can be accessed through policy loans or withdrawals, providing a source of liquidity and financial flexibility. Thus, the cash value can be utilised for various purposes, such as supplementing your retirement income, fund emergencies, or other financial needs. However, it is important to note that any outstanding loans or withdrawals will reduce the policy's cash value and death benefit.