The type of insurance that offers cash value benefits is permanent life insurance, which includes whole life, universal life, and variable life policies. Unlike term life insurance, which only provides a death benefit, permanent life insurance accumulates cash value over time. Part of the premium you pay goes into this cash value, which grows tax-deferred. The cash value can be accessed through loans or withdrawals, though it reduces the death benefit if not repaid. Whole life insurance offers a guaranteed cash value growth, while universal and variable life policies allow for more flexibility and the potential for greater returns, though they also come with higher risks. These types of insurance are typically more expensive than term life due to the cash value component and lifelong coverage, making them suitable for individuals looking for both financial protection and an investment-like benefit.