Loan Value


Definition of "Loan value"

Amount that a policyowner can borrow from a cash value of a permanent life insurance policy.

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Government Life Insurance

Coverage for present and past U.S. uniformed services members under one of these programs: United States Government Life Insurance (USGLI) established ...

Borrower Risk

Liability a borrower assumes. These include: (1) Due to unforeseen circumstances, the borrower may lose the financial ability to repay the principal o ...

Nonforfeiture Benefit (option)

Provision that the equity of an insured in a life insurance policy cannot be forfeited. There are four benefits a policyholder can select under the op ...

Redetermination Provision

Provision found in current assumption whole life insurance policies under which the insurance company retains the contractual right to recalculate the ...

Loss Constant

Surcharge, in retrospective rating of property and liability insurance, added to the basic premium rate charged to reflect fixed cost of adjusting or ...

Policy

Written agreement that puts insurance coverage into effect. ...

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