That would be a whole life policy, the biggest scam ever perpetrated on the American public.
If you have family depending on your income, you need a term life policy its much lower in price and you can get more coverage. It does only pay if you die. Do some research, but Savings Bank Life Insurance is usually the cheapest.
However its about a third of the cost of whole life which doesn't gain all that much. Take the other two thirds you would have paid the insurance co. and buy long term CDs if you are reasonably young and don't anticipate needing immediate liquidity. If you do need that liquidity, make it shorter term, but less interest in that. It still pays better than the whole life policies do.
CDs are safe