What Life Insurance Plan Has A Savings Element? 
Permanent life insurance such as whole life and universal life has a cash value which represents a savings element . As basic savings vehicle , life insurance cash value is important . 20 % of long term savings in this country are in life insurance and annuities which form the foundation of savings for millions of families . 75 million US families rely on life insurance to provide a tax-free death benefit to protect people and businesses using discounted dollars . 