The minimum death benefit while the policy remains in force.
The amount of insurance coverage provided by a life insurance company as stated in the contract. Face amount can also refer to the denomination (or maturity value) of a bond.
The original death benefit on a life insurance policy. On whole life policies, dividends are often used to purchase paid-up additions, thereby increasing the death benefit.
The amount of insurance provided by the policy at death or maturity. Also see Life Product Comparison.
The amount stated on the face of a traditional life insurance certificate that will be paid in case of death. The actual death benefit may be greater or smaller than the face amount, due to adjustments for unpaid certificate loans or premiums, as well as additional insurance purchased through dividends or other benefits.
The amount stated in a life insurance policy that is payable at the insured's death.
The initial death benefit payable on your life insurance policy, as indicated on the face page. Note that this is not necessarily the same as the actual death benefit payable. The death benefit may be higher if dividends were used to purchase additional coverage; it can be lower if loans against the policy were taken and were not re-paid.
The amount to be paid to the beneficiary when the insured dies. It will be reduced by any unpaid policy loans and interest on those loans and may be increased by any dividends.
Amount stated as payable at the death of the insured or in the case of an annuity at the maturity of the contract.
The amount stated on the insurance policy that will be paid in case of death or at maturity. It does not include dividend additions or additional amounts payable under other special provisions.
In a life insurance contract, the stated sum of money to be paid to the beneficiary upon the insured's death. This does not include any amounts added through dividend additions, double indemnity or other special provisions.
The amount of life insurance provided by the policy by the terms of the contract.
The amount stated on the face of a life insurance policy that will be paid in the case of death or policy maturity. It does not include additional amounts payable under accidental death or other special provisions or riders.
Very similar and often exactly the same as the Death Benefit, but can also indicate the number of units where the death benefit increases over time.
The amount stated as payable to the Beneficiary upon the death of the insured.
This is the amount stated on the face of the policy that will be paid in case of death.
This would be the original amount of a note.
The amount stated on the face of a life insurance policy that will be paid upon death or policy maturity. The amount excludes dividend additions or additional amounts payable under accidental death or other special provisions.
The amount stated on the face of the policy that will be paid in case of death. This does not include special provisions, like accidental death.
In the instance of demise, the pay-out amount stated on the face of the policy. This figure does not include additional payable amounts incurred due to accidental death, special provisions, or amounts accrued due to policy dividends.
In insurance, the amount of benefit an insurance policy will pay in the absence of loans against the policy. Also known as the principal sum, or benefit amount.
In a life insurance policy where the death benefit is not variable, the amount stated as payable when the insured dies. ()
The death benefit provided by a life insurance policy. This term most often applies to the amount of insurance specified on the “face” of the policy at the time of issue. In this case, “face amount” does not include post-issue changes in total death benefits such as those arising from paid-up additions or death benefit increases caused by growth in account values. However, some illustration use “face amount” to apply to the total policy death benefit at any give time.
The death benefit payable on a life insurance policy.
The amount of life insurance provided by the terms of a life insurance contract, usually found on the face of the life insurance policy. Also known as the death benefit.
The amount we use to determine the Death Benefit. On the life insurance policy date, the Face Amount equals the initial Face Amount shown in your policy. Thereafter, it may change under the terms of the policy.
The amount of insurance provided by the terms of an insurance contract, usually found on the first page of the policy. In a life insurance policy, the death benefit.
Commonly used to refer to the principal sum involved in the contract. The actual amount payable may be decreased by loans or increased by additional benefits payable under specified conditions or stated in a rider.
This is the amount of money the insurance company pays the beneficiary if the insured dies. The policy can sometimes pay more than its face amount under special conditions like accidental death.
The named dollar amount of coverage provided by a life insurance policy. Generally, for a whole life or term policy, the face amount is the same as the death benefit - the amount paid to the named beneficiary upon the insured's death. Final Expenses - Expenses t occur at the death of an individual t must be paid before concluding the probate process. Examples include estate taxes, medical bills, funeral expenses, legal fees, probate costs, outstanding debts, appraisal fees and the like.
The amount for which the policy is issued that can be paid out when a covered claim is made.
The amount indicated on the face of the policy that will be paid at death or when the policy matures.
The death benefit amount of a life insurance policy.
The amount stated in the certificate that will be paid in case of death or certificate maturity.
The amount stated on the face of the policy that will be paid in case of death. It does not include additional amounts payable under accidental death or other special provisions, or acquired through the application of policy dividends.
The payment amount set forth on the cover page of a life insurance policy as payable in the event of the death of the insured or upon maturity of the policy.
This is a term used frequently in a life insurance policy. It usually refers to the amount shown on the first page of an insurance contract that will be the maximum payable in the case of death.
The total stated on the policy that will be paid in case of death. It does not include additional amounts due under accidental death or other special provisions or acquired through the application of policy dividends, and can be diminished by loans or withdrawals.
The dollar amount, shown on a document.
The amount to be paid to the beneficiary when the insured dies. It will be reduced by any unpaid policy loans and interest on those loans. Fixed Annuity - Fixed annuities are invested primarily in government securities, and high-grade corporate bonds. They offer a guaranteed rate of return, typically over a period of one to ten years. There are two basic types of fixed annuities: the Guaranteed Return Annuities (GRA) is a fixed annuity that offers a guarantee that you can never receive less than 100% of your investment -- no penalties or fluctuations in the interest rate market can impact your principal should you surrender. The Market Value Adjustment annuity (MVA) works much like the GRA, but there is no guarantee of your principal if rates rise and you surrender your contract. MVAs work like a bond and often pay more than a GRA due to the increased short-term risk of rising rates. Free Look - A required period, usually 10 days after a policy has been delivered to the policy owner, during which the policy can be returned for a refund of all amounts paid.
The amount of insurance provided by the terms of a policy. In the case of life insurance, this is the death benefit.
The amount stated in a life insurance policy to be paid upon death of the insured or the maturity date of an endowment policy.
The amount of coverage provided by the terms of the life insurance contract, normally found on the first page of the contract. This is also known as the death benefit. .
The amount stated on the face of the policy that will be paid on the death of the life insured or at the maturity of the policy. It does not include additional amounts payable under accidental death or other special provisions, or acquired through the application of policyholder dividends. Also called the "sum insured".
The amount the surviving party will receive in the event of death.
The original death benefit on a life insurance policy. The policy face amount is also referred to as the "face value."
Commonly used to refer to the amount of insurance purchased. Also called amount of insurance, coverage amount or sum insured.
The blanket amount that is paid to your beneficiary upon your death. This does not include dividends or additional money received due to accidental death or other special circumstances.
The amount stated on the face of a life insurance policy to be paid in the case of death or policy maturity. It does not include dividend addition or additional amounts payable under accidental death or other special provisions.
As used in life insurance, the amount stated on the first page of the policy that will be paid at maturity, upon death of the insured expiration of the endowment period. Additional benefits may be provided by riders or dividends. Also known as face value.
The amount of money to be paid to beneficiaries if the policyholder dies or when the policy matures, exclusive of amounts specified in special provisions.
The amount payable under a life insurance policy if the insured person dies while the policy is in force. Also known as face value.
For a fixed-amount whole life insurance policy, the amount of the death benefit payable if the insured person dies while the policy is in force.
The amount of insurance purchased by the policy owner to be paid in case of death
The amount stated on the face of the policy that will be paid in case of death or at the maturity of the policy.
Under a life insurance policy, the dollar amount to be paid to the beneficiary when the insured dies. It does not include other amounts that may be paid from insurance purchased with dividends or any policy riders.
this commonly refers to the principal sum involved in the insurance contract. The actual amount payable may be decreased by loans or increased by additional benefits payable under conditions specified or stated in the rider.
The amount that the beneficiary receives upon the death of the insured.
The dollar amount in a life insurance policy to be paid to the beneficiary when the insured dies. It does not include other amounts that may be paid from insurance purchased with dividends or any policy riders.
amount payable when you die.
The amount stated on the face of the policy that will be paid by the insurance company at the insured person's death.
Under a life insurance policy, the benefit that is payable to your beneficiary upon your death.
The amount stated in the life insurance policy as the death benefit.
The amount of coverage purchased under a life insurance policy. The death benefit payable at the insured's death is the face amount, adjusted for any outstanding loans, dividends, or late payments.
This refers to the initial amount of the death benefit.
The amount of insurance listed in the policy and applied for by the purchaser. The face amount is the same as the death benefit. Face amounts can be any amount subject to certain specific limitations set forth by the insurance company.
The amount of insurance protection in a given policy. Also called Coverage Amount.
The amount of death benefit coverage that is purchased under a life insurance policy.
The amount of insurance provided by the terms of an insurance contract, usually found on the first page of the policy. This can also be called the death benefit.
An American expression denoting the amount for which the Insurer is liable under the policy.
The principal amount of insurance provided at the time of issue by an insurance policy. The term derives from the fact that the amount of insurance is usually indicated on the first page or ‘face' of the policy.
In a life insurance policy in which the benefit is not variable, the amount stated as payable at the death of the insured. It is generally shown on the first page of the policy. Also called the face value. See also basic death benefit, death benefit, and policy proceeds.
In life insurance the amount of basic coverage stated on the face of the policy.
The dollar amount to be paid to the beneficiary upon death or to the policy owner upon maturity. It does not include other amounts that may be paid from insurance purchased with dividends or from any policy riders. The face amount will be reduced by any policy loans made to the insured and not repaid, plus any unpaid interest on these loans.