In which type of policy is a cash value most likely to accumulate?

Whole life policies are designed to provide both a death benefit and a cash value component, which accumulates over time. Whole life insurance is a type of permanent life insurance that offers coverage for the insured's entire life, as long as premiums are paid. The cash value grows at a guaranteed rate and can be borrowed against or withdrawn during the policyholder's lifetime, adding an investment aspect to the insurance coverage.

In contrast, annuity policies focus primarily on providing a stream of income, often for retirement purposes, with their value accumulating differently. Term life policies only offer coverage for a specified period and do not have a cash value component. Accidental death policies provide benefits in the event of death due to an accident and similarly do not accumulate cash value. Thus, whole life policies are the only option among those listed that reliably allows for cash value accumulation.