Shelley jackson has a life insurance policy where she makes payments of $185 per year for the rest of her life. this policy has a cash value that increases while she continues to make payments. if she gives up her insurance, the cash value is the amount she would receive from this policy. what type of life insurance does shelley likely have?
It is likely that Shelley has a whole life insurance policy. The premium stays the same over time, and the policy accumulates a cash value. It's also possible that she has what is called universal, variable or variable universal policy.
