Cash Value Insurance
/ˈkæʃ ˈvælju ˌɪnʃʊərəns/
Definitions
- (n.) A type of life insurance policy that includes an investment component, allowing the policyholder to accumulate a cash surrender value over time.
He purchased cash value insurance to provide both life coverage and a savings element.
Forms
- cash value insurance
Related terms
See also
Commentary
Cash value insurance distinguishes from term life by combining protection with an investment feature; drafters should clarify the treatment of the accumulated value in contracts.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.