Cash Value Life Insurance
Definition of "Cash value life insurance"
Policy that generates a savings element. Cash values are critical to a permanent life insurance policy. The size of a cash value buildup differs substantially from company to company. In many instances there is no correlation between the size of the cash value and premiums paid; in some cases there is an inverse relationship. Everything that the policy owner wishes to do with this policy while living is determined by the size of the cash value. For example, at some future time, a policy owner may wish to convert the cash value to a monthly retirement income. Its size will depend on the amount of the cash value and the attained age of the policy owner.
Popular Insurance Terms
Form of cash refund annuity used by contributory pension or employee benefit plans. When employee participants die before receiving all of their contributions in the form of retirement ...
Third-in-line beneficiary to receive benefits from an insurance policy should the primary and secondary beneficiaries not survive. ...
Coverage that will indemnify the insured for the expenses, up to the limits of the policy, if a building is damaged by a peril such as fire, and zoning requirements and/or building codes ...
Professional designation earned after the successful completion of five national examinations given by the insurance institute of America (IIA). Covers such areas of expertise as accident ...
Legislation that makes insurance fraud a federal crime. This act is part of the Omnibus Crime Bill. Under the act, it is a federal crime to embezzle or misappropriate funds, money, or ...
Insurance company established by a trade group or other association to provide selected types of primary insurance and/or liability insurance for members of the association and access to ...
Call on a prospective insurance buyer without a prior appointment. Many salespeople find this exercise the most threatening in their career development. Some observers attribute the ...
Single policy under which one individual is insured. ...
Settlement choice under a life insurance policy whereby a beneficiary may elect to have the death proceeds paid in the form of a joint and survivor annuity. ...
Have a question or comment?
We're here to help.