actual cash value

actual cash value definition - business

actual cash value

The amount of cash to be received by the holder of a whole life insurance policy in the event the policy is surrendered. Cash value results from a policyholder paying premiums that more than cover the cost of the death benefit.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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