Does Term Life Insurance Have A Cash Value? 
Term insurance does not have a cash value . Term insurance is designed to protect you for a period of time such as 10 , 20 , or 30 years . During this period your entire premium is paying the cost of insurance . Whole life insurance has a cash value , and provides protection for your whole life . There are usually several options 20 pay -LRB- pay your premiums for 20 years -RRB- , paid up at 65 option , and traditional whole life . There are a lot of options when it comes to life insurance , and it is always a good idea to consult with your agent for the type that fits your need and your budget . 