Universal Life Insurance

Universal life offers a cash value element in addition to permanent insurance protection. In this kind of policy, your premiums are channeled into a fund managed by your insurer.  

Part of the premium goes to pay the actual cost of insurance, and the remaining premium builds a cash value that not only continues to pay the higher premium as you age, but the residual is potentially a fund that can be used later in life (serious restrictions apply), or a benefit upon death. 

Premiums are considerably higher, but the policy can last until death, which is of course what you want, if properly structured.

Other Policies to Consider:  Long-term care and Disability Insurance