Cash Value Life Insurance is a type of permanent life insurance that includes a cash value savings element and lasts for the entirety of the policy holder's life. The policyholder can use the cash value for many purposes, such as a source of loans or cash withdrawals, or to pay premiums on their policy.The biggest advantage to owning a cash value life insurance policy is that it offers peace of mind in knowing that you and your loved ones will be taken care of financially if something happens to you. Cash value policies also tend to accumulate more wealth over time than term life policies do, making them an attractive option for those looking to save for retirement or other long-term goals.While there are some disadvantages associated with owning a cash-value life insurance policy (such as higher premiums and surrender charges), most people find that the benefits far outweigh any negatives. If you’re considering purchasing this type of coverage, be sure to consult with an experienced agent who can help you find the best plan for your needs and budget.