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The definitions contained herein are for general information only and are not
designed for use in connection with the interpretation of any insurance policy
or annuity policy issued through Insurance Answer Center.
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Life Insurance Glossary Terms 4 A B C D E F G H I J K L M N O P Q R S T U V W Y |
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Actual Cash Value |
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The amount of money owed to a policyowner upon termination (surrender) of a life insurance policy that has cash value is called the actual cash value. Policies with a cash value include whole life, interest sensitive whole life, universal life policies and deferred annuities. Visit our annuity site for additional information. The actual cash value is equal to the policy account value, minus any applicable surrender charges, and minus any outstanding policy loans, including any interest due. Payment of the actual cash value terminates the policy. Also known as Cash Surrender Value, Cashing In or Cashing Out a policy. See also Account Value, Accumulation Account, Cash Value, Whole Life, Interest-Sensitive Whole Life and Universal Life Insurance. |
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Learn More about Life Insurance
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| Answer Financial(R) Inc. offers insurance products and services through its licensed affiliates Insurance Answer Center(R) Inc. (California License No. 0B99714), Answer Center Insurance Agency, Inc., and other affiliates. Answer Financial is not an insurance company. Insurance plans and services are from insurance companies and other licensed insurance-related providers. Not all products available in all states. Rates subject to change. |
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