What Is Term Life Insurance With A Cash Value? 
Some people might explain `` living benefit '' Term life insurance as having a cash value . The description is not accurate , because the cash in a living benefit policy comes from the face amount , is not available to use unless the insured person qualifies in some way . I.e. , is diagnosed with certain chronic illnesses , is unable to perform two or more ADL 's , and/or is medically determined to be terminally ill . However , that could be what you are referring to . 