Final answer:
Whole life insurance provides the greatest protection for an insurance premium dollar as well as cash accumulation.
Step-by-step explanation:
The policy that provides the greatest amount of protection for an insurance premium dollar as well as some cash accumulation is Whole life insurance.
Whole life insurance offers both a death benefit and a cash value component. The cash value accumulates over time and can be used as an account for the policyholder to access funds if needed. This means that whole life insurance provides protection for the premium paid while also allowing for cash accumulation.
On the other hand, term life insurance does not offer any cash value accumulation. Annuities provide a stream of income in retirement but do not typically offer a death benefit. Limited-pay life insurance requires premium payments only for a limited period of time.