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What (who) is cash value - definition
Cash value
TYPE OF VALUE
Surrender value; Nonforfeiture value; Cash surrender value
Cash Value refers to an investment component in life insurance that grows tax-free over the course of the policy's life. Cash value is a part of permanent life insurance policies and is a living benefit that the policyholder can use during his or her lifetime.
surrender value
TYPE OF VALUE
Surrender value; Nonforfeiture value; Cash surrender value
¦ noun the amount payable to a person who surrenders a life insurance policy.
surrender value
TYPE OF VALUE
Surrender value; Nonforfeiture value; Cash surrender value
(surrender values)
The surrender value of a life insurance policy is the amount of money you receive if you decide that you no longer wish to continue with the policy. (BUSINESS)
N-COUNT
Examples of use of cash value
1. Is there, however, a huge cash value in the role for which he is auditioning –– darling of religious conservatives?
2. Attorney Jim Letten said that by inflating a budget, a company could claim higher tax credits, which have a real "cash value" and can be transferred and sold.
3. It is claimed that some 2.7 million Britons requested vouchers which are estimated to have a cash value of some 73 million.
4. "Cash value for voters, cash for child care – they can understand what that means," says Stephen Clarkson, a professor of political economy at the University of Toronto.
5. Nevertheless the cash value of the Royal Household‘s grant has been maintained." Royal officials insist that the 15million they receive each year for maintenance does not stretch to the heavy–duty repairs that are now desperately needed on several properties.