Does Burial Insurance Build Cash Value?
A modest savings component grows alongside your coverage.
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Quick Answer
Yes. Because burial insurance is a form of whole life insurance, it typically builds a modest amount of cash value over time, growing slowly in the early years and more noticeably the longer the policy stays in force.
For more detail, see our explanation of whole life vs. term life insurance for seniors.
The cash value is separate from the death benefit and generally grows on a tax-deferred basis. In many policies, you may be able to borrow against the cash value or, in some cases, surrender the policy for its cash value if you no longer need the coverage.
Because burial insurance policies are relatively small, the cash value accumulation is modest compared to a large traditional whole life policy — the primary purpose remains the death benefit, not cash accumulation.
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