A potential client wants a whole life policy that accumulates cash value quickly. Which option is correct?

The option that accumulates cash value quickly and aligns with the client's request for a whole life policy is a 20-pay Life policy. This type of policy is a form of permanent life insurance that provides coverage for the insured's entire life but requires premium payments to be made for a specified period, typically 20 years.

By paying premiums over a shorter duration compared to traditional whole life policies, the cash value builds up more rapidly due to the concentrated payment period. After the payment period, the policy remains in force for the life of the insured without requiring further premium payments, allowing the accumulated cash value to grow.

In contrast, permanent life insurance generally includes options like Universal Life, which may have flexible premiums and a different accumulation structure, but it does not necessarily focus on rapid accumulation like a 20-pay Life policy. Term Life insurance solely provides coverage for a specified term without any cash value accumulation, making it unsuitable for the client's needs. The Permanent Life option is vague and doesn’t specifically address the rapid cash value accumulation aspect required by the client.

Thus, a 20-pay Life policy is well-suited for clients who desire the dual benefits of lifelong coverage and accelerated cash value growth.