Which Life Insurance Policy Has A Cash Value? 
The type of life insurance that can have a cash value is Whole Life or Universal Life . These are called `` permanent '' policies -LRB- as opposed to `` term '' insurance , that has no cash value -RRB- . There are variations of Whole and Universal Life , as well , called Variable and Indexed policies . These have the potential to generate more cash value that regular Whole or Universal Life , because Variable or Indexed products allow utilization of stock market funds . 