What is an immediate advantage of a whole life policy compared to a term policy?

A whole life policy offers the distinct advantage of guaranteed cash value accumulation from the moment it is issued. This means that as policyholders make their premium payments, a portion goes towards building cash value in addition to providing a death benefit. The cash value grows at a specified rate set by the insurance company, and it is guaranteed to increase over time, providing a financial resource that can be accessed while the policyholder is still alive, potentially through loans or withdrawals.

In contrast, term policies lack this feature entirely, as they do not accumulate cash value. Lower premiums associated with term policies can be appealing for some, but this doesn't provide the long-term financial benefits that come with a whole life policy's cash value. Similarly, flexible death benefits are often a characteristic of other types of policies rather than a standard feature of whole life insurance. Therefore, the guaranteed cash value accumulation is an immediate and significant advantage of whole life insurance when compared to term life insurance.