Which of the following types of policies will provide the most rapid growth of cash value?

The 20 pay life policy is designed to build cash value more rapidly than other types of life insurance policies. This specific policy requires the insured to pay premiums over a fixed period of 20 years. Once those premiums are fully paid, the policy will have significant cash value accumulation, often faster compared to whole life or universal life policies.

Whole life policies typically have a longer premium payment period and accumulate cash value at a steadier, but slower, rate, particularly in the early years. Universal life policies allow for flexible premiums and death benefits, but their cash value growth can vary significantly based on the underlying investment performance and cost of insurance, which may not provide the same rapid buildup as the 20 pay life policy.

Term life insurance, on the other hand, does not accumulate cash value at all as it is designed solely for providing death benefit coverage. The absence of cash value accumulation makes it the least effective choice for rapid cash value growth when compared to the other options.

Overall, 20 pay life policies strike a balance by rapidly enabling cash value growth while still being a permanent coverage solution, making them the most suitable choice for someone looking to maximize cash value in the shortest amount of time.