Jeffrey Manola is an experienced life insurance agent and the founder of Top Quote Life Insurance. His mission when he created Top Quote Life Insurance was to provide online consumers searching for life insurance with the absolute best quotes for term life insurance, permanent life insurance, no medical exam life insurance, and burial insurance. Not only does he strive to provide you with the ...

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Written by Jeffrey Manola
Founder & Licensed Agent Jeffrey Manola

Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years Leslie Kasperowicz

UPDATED: Jun 30, 2022

Advertiser Disclosure

It’s all about you. We want to help you make the right life insurance coverage choices.

Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.

Facts You Should Know

  • Your cash value can be thought of as a savings account since the funds never decrease unless you make withdrawals from your policy
  • Shopping online is a great way to find a life insurance company that can provide you with financial coverage
  • You can take a loan out from your cash value without paying it back, but it will be detracted from your total death benefit

In today’s economy, it’s imperative that you find the best insurance company that can provide you with the coverage you and your family need. With cash value whole life insurance policies, you can reap the rewards of a life insurance policy that pays dividends.

Luckily, it’s as easy to get life insurance quotes from affordable life insurance companies that build cash value, and you can even use a cash value life insurance calculator to ascertain just how much you can benefit from such a policy.

You don’t have to wait to get life insurance quotes from life insurance companies that build cash value.

Enter your ZIP code to get free quotes from life insurance companies that build cash value near you today.

The Best Life Insurance Companies that Build Cash Value

There are quite a lot of life insurance companies to choose from, but below you’ll see some of the best insurance companies that build up cash value:

  • Penn Mutual
  • MassMutual
  • New York Life
  • Guardian Life Insurance Company of America
  • Northwestern Mutual
  • OneAmerica
  • Foresters

All of these companies are top in their field, but before you decide to buy, life insurance companies that build cash value each do have their own nuances.

This means that it’s best to do your research on all of them so you can ascertain which one is best for you and your needs.

Penn Mutual

Penn Mutual is one of the best life insurance companies in the business as its policies provide some of the highest dividends for its clients.

Penn Mutual offers direct recognition whole life insurance policies, which stall the growth of dividends because the cash value is employed by the insurance company as collateral for loans.

Because of this, a direct recognition policy could offer you less in your cash value than a policy from a non-direct recognition company could.


MassMutual has been in business for over 100 years, and it offers high-quality life insurance products to its clients. This progressive company has embraced the internet age and remained flexible with the times even in the midst of a pandemic.

Committed to their most popular product, whole life insurance, MassMutual has continued to grow at a great rate, and this company has some of the highest participating dividends in the insurance industry.

MassMutual can boast to providing the highest average whole life dividend over the past 15 years. This company is unique because it offers both non-direct recognition and direct recognition, which gives more choices to MassMutual clients.

New York Life

A well-known company, New York Life has a wonderful range of whole life insurance products that have always provided not only excellent coverage but strong dividend growth, as well.

With a policy from New York Life, you can rest assured that you’ll not only be able to provide for your loved ones after your passing, but you can benefit from it while you’re alive, as well.

Guardian Life Insurance Company of America

If you want a company that has a variety of life insurance products, a productive history, and impressive dividends, The Guardian Life Insurance Company of America might be a good company for you.

The dividends provided by The Guardian Life Insurance Company of America tend to run lower than a few other companies, but a whole life insurance policy from this company is a workhorse.

Northwestern Mutual

Northwestern Mutual has been in business for quite a while and is one of the first original mutual companies, an insurance company that is owned by its policyholders.

American United Life Insurance Company

American United Life Insurance Company, part of the OneAmerica organization, provides a great swath of whole life insurance policies. It may not be as well known as the other companies on this list, but you can’t go wrong with a policy from American United Life Insurance Company.

The coverage options for its whole life insurance products are excellent, and the rate of growth in the cash value has always been admirable.


Despite not being a very popular company, Foresters offers very high participating dividends.

A fraternal organization, this company is rapidly growing. Fraternal organizations, as explained by the NAIC, must provide life, health, and related insurance products to the members of the organization and be not-for-profit.

These organizations must also execute charitable acts and other works that benefit their members and the public.

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The Importance of Cash Value

Whole life insurance is one of the two major types of life insurance, and it is permanent insurance. A whole life insurance policy comes with a guaranteed death benefit, guaranteed premiums, and cash value growth.

Life insurance companies that build cash value may be a great choice for you because a whole life insurance policy builds up cash value. You can access the funds built up in your cash value at any point in your policy’s life.

You can think of your cash value as a sort of savings account because your cash value will never fluctuate, only rise.

How to Access Your Cash Value

After you’ve found the best whole life insurance policy for you, you’ll need to know how to access your cash value. You can do so in a few different ways:

  • Loans
  • Distributions
  • Cash out dividends

While all of these strategies are fine ways to access your cash value, taking a loan out on a policy is very popular because taxes do not need to be paid on this loan.

Taking a loan out on your life insurance policy is always very popular because these loans don’t have to be paid back into the policy, though if you do take out a loan and don’t pay it back, the unpaid amount will be deducted from your total death benefit.

Top Life Insurance Companies That Build Cash Value: The Bottom Line

A whole life insurance policy can be a great investment depending on your situation.

While life insurance rates for life insurance companies that don’t build cash value may be lower, you can find very affordable rates for whole life insurance with some companies offering as little as $26 per month.

If you’re excited to see how much you can save on a whole life insurance policy that builds cash value, you can get started today.

Enter your ZIP code to get free quotes from life insurance companies that build cash value.