Cash Value refers to the amount of money that can be obtained from a life insurance policy or other financial products, such as whole life insurance. It represents the savings component of the policy, which grows over time and can be accessed by the policyholder. Policyholders can borrow against the cash value or withdraw funds, but doing so may reduce the death benefit. The cash value typically accumulates at a guaranteed rate, and some policies may offer dividends, enhancing the overall value. Understanding cash value is essential for making informed financial decisions regarding insurance products.