Whole life insurance, which is a type of permanent life insurance, might be the answer. It’s a life insurance policy that stays in effect for as long as you live, no matter your age or health. It can also help give your family financial assistance after you die.

Whole life insurance also comes with cash value, which is the part of your policy that earns interest. Cash value works like equity in your home: it grows over time and you can borrow directly against it or use it as collateral for a loan.