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Life insurance
Industry: Insurance
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Life insurance
cash value
Insurance; Life insurance
In a life insurance policy, the amount available to the owner when a policy is surrendered to the company. During the early policy years, the cash value is the reserve less a surrender charge. in the ...
cash surrender value
Insurance; Life insurance
In a life insurance policy, the amount available to the owner when a policy is surrendered to the company. During the early policy years, the cash value is the reserve less a surrender charge. in the ...
face amount
Insurance; Life insurance
In a life insurance policy, the amount payable in the event of death, as stated on the front page of the policy. Since the amount of insurance protection provided under a given policy is usually ...
dividend options
Insurance; Life insurance
In a participating whole life insurance policy, the different ways in which the insured may elect to receive surplus earnings: In cash; as a reduction of premium; as additional paid-up insurance; ...
dividend additions
Insurance; Life insurance
In a whole life insurance policy, paid-up additional insurance purchased with the dividends on existing policies. Participating policies provide that their dividends may be used as single premiums at ...
delivery receipt
Insurance; Life insurance
In insurance, a receipt signed by the policyowner, stating that he or she has received the policy.
carrier
Insurance; Life insurance
In insurance, another term for insurer, used because the insurance company assumes or carries the risk for its policy owners.