- 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. Anderson, W.S.. 1998.
Ballentine's law dictionary. Anderson, W.S.. 1998.
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
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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
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
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Life insurance trust — A life insurance trust is a trust that is set up for the purpose of owning a life insurance policy. The idea is that if it is an ILIT, an irrevocable life insurance trust, that the trust itself is the policy holder and owner, the payer is the… … Wikipedia