Can Term Life Insurance Have Cash Value? 
Term life insurance does not build cash value - only permanent life insurance will -LRB- universal life and whole life -RRB- . Term insurance programs feature a simple format - you 're buying coverage for a set number of years . If the insured dies during the term period , the policy pays out a death benefit . If the insured outlives the term period -LRB- and you decide not to pay the annual renewable term amount - this number will be substantially higher than the term premium so most people will never pay it -RRB- , the coverage will end and you will need to secure a new policy if you want to continue having coverage in place . It may be a good idea to have a life insurance portfolio that features some term coverage and some permanent coverage , depending on your specific needs . I hope the information is helpful - please feel free to contact me for assistance with your program and if you have any other questions . Thanks very much . 