face amount

face amount definition - business

face amount

The dollar amount of life insurance that will be paid to beneficiaries in the event of death of the insured. For example, an individual may have $500,000 face amount of life insurance coverage.

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.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.