My fiance and I were engaged in May 2007, we are planning to get married in October 2008. In October 2007 he was diagnosed with cancer-- both of us being college students, he is still covered under ...
My husband's employer is changing insurance companies at the first of the year. They stated if your spouse can get insurance for $85 or less through their employer, then they will have to do so....
I have depression and everything that comes with it. Now i get insurance some with cover this type of thing. But not this coz i've had it in the last 5 years and still have it now. There has to ...
I've always been under my dad's insurance because I was a full time student. I just started a full time job, and I recently got my own insurance. I was just wondering if someone could ...
Has anybody purchased life insurance through Bank of America? I signed up around December '07 and saw the first debit in my bank account even though I had received nothing in writing from them. ...
Hi, My brother was recently hit by a lady when going around a round about. He was obeying all road rules but she did not se him when she entered the round a bout. He has no personal injures besides ...
I am moving to the USA with my husband and am wondering how much it would be for me on my own and for us as a couple. Do most people have insurance? Additional Details I only want to be ...
THAT DIED FROM THE TERRORIST ATTACKS DIDN'T GET COVERED BY THEIR LIFE INSURANCE COMPANY? Additional Details RELAX!!!!!
I asked this question the wrong way!!
It does sound ...
I am looking for an Insurance company with GREAT Customer Service that will ACTUALLY HELP & WORK with me and not give me the run around and against me!??......
We were just notified that one our houses, (we are trying to sell it) has just flooded from frozen pipes. I, fortuntely, have never had to file an insurance claim ever. Do we call ins. first, or do ...
Seller paying to close on a home i bought. Does that mean the first year homeowners insurance will be paid out of my escrow automatically at closing? Or do i have to come up with the money to do so ...
I recently got a medical bill and it listed all this stuff from when I seen in a hopsital and prices and it said the insurance didn't allow any of it and I didn't owe anything, does that ...
We were in a minor accident with the other parties fault, after 5 months of waiting on our insurance company to get the other company to call their insured, we filed a no-fault claim with our ...
betty w
What does face value mean on a life insurance policy?
The previous answer is the most correct. The "face value" of a life insurance policy is the death benefit. However it's subject to other clauses in the policy.
Examples:
If the policy has a "double indemnity" clause, the beneficiary receives double the face value in case of accidental death.
Not all life insurance earns interest or dividends and some term policies have a "decreasing face value" clause or payout based on the aging of the insured each year. Many policies have a drastic cut in payout based on the insured reaching an "attained age clause". Don't confuse "current coverage or "current value" with "face value".
The face value is usually written on the "Schedule of Benefits" page in a life insurance policy and is the amount the policy was originally written for factoring in any debts and/or earnings and any other material clauses as previously mentioned.
john p
Face value is the amount the beneficiary(s) receive when/if the insured dies.
rhsaunders
The previous answers are partially correct; it is the amount that the policy would pay if nothing changed from the time it was taken out. But lots of things can change: the policy may accrue dividends, which increase the total worth, or loans may be taken against the cash value of the policy, which will decrease the size of a payout. The face value doesn't change, but the net payout can easily be more - or less.
Chanakya
The face value of a life insurance policy is the "death benefit". In the case of so-called "double indemnity" life insurance policies, the beneficiary receives double the face value in case of accidental death.
It is the amount assured on the insured against death. It is also known as "Sum assured".
mbrcatz
How much they pay out if you die.
Marianne T
It means the total value of the life insurance policy if the insured dies.
Homepage 
Financial
Forum 
Insurance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
