cash value life insurance policy
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Cash-Value Life Insurance — A type of life insurance policy that pays out upon the policyholder s death, and also accumulates value during the policyholder s lifetime. The policyholder can use the cash value as a tax sheltered investment (the interest and earnings on the… … Investment dictionary
Whole Life Insurance Policy — A life insurance contract with level premiums that has both an insurance and an investment component. The insurance component pays a stated amount upon death of the insured. The investment component accumulates a cash value that the policyholder… … Investment dictionary
value of life insurance policy — For inheritance tax purposes, its face value, less a proper rebate for the period during which payment may be deferred. Anne: 73 ALR2d 232. See cash surrender value … Ballentine's law dictionary
Unbundled Life Insurance Policy — A type of financial protection plan that provides cash to beneficiaries upon the policyholder s death. A unbundled life insurance policy contains a savings and investment component that the policyholder can use during his or her lifetime or pass… … Investment dictionary
Cash value — The cash value of an insurance contract, also called the cash surrender value or surrender value, is the cash amount offered to the policyowner by the issuing life carrier upon cancellation of the contract. This term is normally used with a life… … Wikipedia
life insurance — insurance providing for payment of a sum of money to a named beneficiary upon the death of the policyholder or to the policyholder if still living after reaching a specified age. [1800 10] * * * Method by which large groups of individuals… … Universalium
life insurance — n: insurance providing for the payment of money to a designated beneficiary upon the death of the insured see also endowment insurance ordinary life insurance: whole life insurance in this entry straight life insurance … Law dictionary
Variable Life Insurance Policy — A form of permanent life insurance, Variable life insurance provides permanent protection to the beneficiary upon the death of the policy holder. This type of insurance is generally the most expensive type of cash value insurance because it… … Investment dictionary
cash value — Insurance. the nonforfeiture value of a life insurance policy payable to the insured in cash upon its surrender. Also called cash surrender value, surrender value. [1895 1900] * * * … Universalium
interest-sensitive insurance policy — A cash value life insurance policy whose insurance dividend rates vary with respect to inflation, enabling the policyholder to avoid the loss of purchasing power associated with inflation. Bloomberg Financial Dictionary … Financial and business terms
holder of life insurance policy — The named insured or an assignee, for the purpose of obtaining the cash surrender value under a nonforfeiture provision of the policy. 29 Am J Rev ed Ins § 686 … Ballentine's law dictionary
