Valued Policy - Law Dictionary Search Results

valued policy law

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cash surrender value

cash surrender value : the amount of money an insurer will pay the insured upon surrender of a life insurance policy

in a business during a certain period, is another shade of meaning. The expression, 'turnover' in the Drug Policy, 1994 represents the sale value of the bulk drug sold as such or in the form of formulations. … his own account or on account of others whether for cash or for deferred payment or for other valuable consideration, Joint Commercial Tax Officer v. Young Men's Association (Regd.), AIR 1970 SC 1212 (1215): (1970) 1 SCC

reserve

the purpose of absorbing losses [a loan loss reserve] 2 : an insurance company's reserve representing the discounted value of future payments to be made on losses which may have already occurred policy reserve : an insurance

life insurance

entry variable life insurance : life insurance in which all or part of the cash value of the policy is located in a tax-deferred investment portfolio with risk assumed by the insured for investment losses compare variable … life insurance : life insurance that provides coverage for a set term and does not accumulate cash surrender value universal life insurance : life insurance characterized by flexible premiums, benefits, and payment schedules, by the indexing of

Contribution plan

excess of premiums and interest earned thereon over the expenses of management cost of insurance and the policy value at the date of computation This excess is called the contribution of the policy

incident of ownership

may be exercised over a life insurance policy which are used as criteria for the inclusion of the value of a policy in a decedent's gross estate for purposes of estate tax

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Valued Policy - Law Dictionary Search Results

Valued policy

valued policy