Yes, you can. If your goal is to maximize what you leave behind, you use the increasing death benefit, where cash value is added on top of the death benefit.
However, most of my clients prioritize living benefits – growing their money tax-free and accessing the highest tax-free income possible. For this, we use the level death benefit, where cash value becomes part of the death benefit. This keeps insurance costs lower as you age, boosting your overall rate of return.
Watch the full episode to learn more!