We gather here the best discounts and vouchers that are available at the moment for life insurance. The savings component of a permanent life insurance policy is called cash value. The policy owner can borrow against the cash value or surrender the policy for the money. The cash can be used for anything, for example college expenses or the down payment on a home. A whole life insurance policy guarantees a certain percentage return on the cash value. Life insurance isn’t designed to be a primary savings and investment tool, but it’s one of the tools for parents to consider.