What is a common feature of whole life insurance policies?

Whole life insurance policies are designed to provide a death benefit to the beneficiaries of the policyholder while also accumulating cash value over time. This cash value component grows at a guaranteed rate and can be accessed by the policyholder through loans or withdrawals, making it a valuable asset. This feature of cash accumulation is a distinct advantage of whole life insurance compared to term life policies, which typically do not offer this benefit. The growth of cash value adds a saving element to the policy, allowing the policyholder to benefit from both protection and investment over the long term.