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
Insured's income prior to the disability minus the insured's income after the disability. ...
Additional amount of life insurance above that provided by the employee benefit plan (standard group life plan) that may be chosen by the employee. A limit is usually placed on this maximum ...
Latin phrase meaning "to stand by the decisions." This legal doctrine under common law requires courts to rely on precedents, or previous decisions, when deciding disputes unless there is a ...
Insurance policy for which the required premium has been paid. ...
Extra percent of interest credited to an annuity during the first year that it is in force. This extra amount is above the interest rate to be credited beginning with the second year and ...
Creditor with a documented claim on a specific asset of a debtor. ...
Separate account created by the Tax Relief Act of 1997 and named after Senator William Roth Jr. of Delaware. A working individual may contribute up to 100% of compensation or $2000. The ...
Trade association of property and casualty insurance companies that do not have membership in a rating bureau. These companies do not follow standard rates and forms authored by a rating ...
Liability Insurance is a type of coverage present in Home Insurance as well as other fields of insurance. In Real Estate, Liability Insurance refers to coverage protecting the insured from ...
Have a question or comment?
We're here to help.