Is There A Cash Value On Term Life Insurance? 
Generally no . Typically , you 're only getting cash value under a permanent life insurance policy -LRB- universal life or whole life -RRB- . Term insurance is fairly straightforward - you 're either dead or you 're not dead . If the insured dies during the term period , the policy pays the death benefit to the beneficiary . If the insured is still living and the term period expires , you can continue to pay the premiums for what would then be an annually-renewable policy -LRB- with rates going up each year -RRB- , or terminate and secure new coverage . The idea of term insurance is to have coverage for only a set number of years -LRB- 10 , 15 , 20 , 25 , or 30 years -RRB- and then the premium guarantee would end . Some return of premium policies build cash value because the carrier gives you back your premiums if you outlive the term of the policy . However , you 're not borrowing from it like you can with permanent coverage . The premiums for ROP policies are higher than traditional term insurance for that reason , but if you think you have a good chance at outliving you 're term insurance policy and you can afford the additional premium , it may be an option for you to consider . Please feel free to contact me for further assistance . Thanks very much . 