Which of the following benefits does Cash Value (Permanent) insurance offer?

Cash Value (Permanent) insurance indeed offers both death benefits and living benefits, which is why this answer is the most accurate.

Permanent insurance, such as whole life or universal life insurance, not only provides a guaranteed death benefit to the beneficiaries upon the policyholder's death but also accumulates cash value over time. This cash value can be accessed during the policyholder's lifetime, providing living benefits such as the ability to borrow against the cash value or withdraw funds for various needs, like emergencies, retirement funding, or other expenses. This dual offering of both death and living benefits distinguishes permanent insurance from term insurance, which only provides a death benefit without any cash accumulation.

The other options do not fully capture the comprehensive nature of cash value insurance. By focusing solely on investment opportunities or just death benefits, they overlook the unique advantage of accessing cash value while alive. Moreover, stating that there are no benefits after death is inaccurate, as these policies are designed specifically to provide benefits upon passing, alongside the living benefits that can be obtained during the policyholder's life.