What type of whole life insurance always has a cash surrender value?

The type of whole life insurance that always has a cash surrender value is referred to as single premium whole life insurance. This specific type of policy involves a one-time premium payment, which then fully funds the policy and immediately creates a cash value.

Single premium whole life insurance is designed to be permanent coverage, and because it is funded upfront, it accumulates cash value from the outset. This cash surrender value can be accessed by the policyholder if they decide to surrender the policy before its maturity, providing financial flexibility.

In contrast, while whole life insurance does accrue cash surrender value, the key feature of single premium whole life is the immediate and guaranteed cash value as a result of the single premium payment. Therefore, it stands out for its guaranteed provision of cash value, making it a prominent choice for those seeking both life insurance protection and savings options.