Cash Value Life Insurance
/ˈkæʃ ˈvæljuː laɪf ɪnˈʃʊərəns/
Definitions
- (n.) A type of life insurance policy that includes a savings component (cash value) which grows tax-deferred and can be borrowed against or withdrawn.
The policyholder increased their coverage by utilizing the cash value life insurance's loan feature.
Forms
- cash value life insurance
Related terms
See also
Commentary
Cash value life insurance combines protection and investment elements, important for legal clarity in policyholder's rights and tax implications.
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.