Which type of insurance has a cash value that can be used in emergencies?

The correct answer is: Whole life. This type of insurance is permanent and can be used to meet needs such as the cost of death, death and final burial expenses. The premium level allows the policy owner to know exactly what the insurance cost will be and offers a form of forced savings.

Whole life, but to be blunt - this type of life insurance is for idiots. Its disadvantages far outweigh the pluses