All > Business > Finance > Insurance > Life Insurance

• The amount available in cash upon surrender of a policy before it becomes payable upon death or maturity.

  Alabama Department of Insurance - Cite This Source - This Definition
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  Cite Definition for Cash Value (Cash Surrender Value)

  American Psychological Association (APA)

  Cash Value (Cash Surrender Value). (n.d.). Glossary of Life Insurance Terms. Retrieved June 10, 2023, from website: http://www.expertglossary.com/definition/cash-value-cash-surrender-value.

  Chicago Manual of Style (CMS)

  Cash Value (Cash Surrender Value). www.aldoi.gov. Glossary of Life Insurance Terms. Alabama Department of Insurance. http://www.expertglossary.com/definition/cash-value-cash-surrender-value (accessed: June 10, 2023).

  Modern Language Association (MLA)

  "Cash Value (Cash Surrender Value)." Glossary of Life Insurance Terms. Alabama Department of Insurance. 10 June. 2023 http://www.expertglossary.com/definition/cash-value-cash-surrender-value.

• Browse Related Terms: Accelerated Death Benefits, Accidental Death Benefit, Beneficiary, Cash Value (Cash Surrender Value), Current Assumption Whole Life, Double Indemnity, Face Amount, Living Benefits, Mortality Table, Rider, Variable Life Insurance

All > Business > Finance > Insurance > Life Insurance

• Term insurance that offers the policyholder the option of exchanging it for a permanent plan of insurance without evidence of insurability.

  Alabama Department of Insurance - Cite This Source - This Definition
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  Cite Definition for Convertible Term Insurance

  American Psychological Association (APA)

  Convertible Term Insurance. (n.d.). Glossary of Life Insurance Terms. Retrieved June 10, 2023, from website: http://www.expertglossary.com/definition/convertible-term-insurance.

  Chicago Manual of Style (CMS)

  Convertible Term Insurance. www.aldoi.gov. Glossary of Life Insurance Terms. Alabama Department of Insurance. http://www.expertglossary.com/definition/convertible-term-insurance (accessed: June 10, 2023).

  Modern Language Association (MLA)

  "Convertible Term Insurance." Glossary of Life Insurance Terms. Alabama Department of Insurance. 10 June. 2023 http://www.expertglossary.com/definition/convertible-term-insurance.

• Browse Related Terms: Annuity, Convertible Term Insurance, Cost Index, Cost-Of-Living Rider, Guaranteed Insurability, Insured, policy, Policy Loan, Renewable Term Insurance, Straight Life Insurance, Term insurance, Term Rider, Universal life insurance, Whole Life Insurance (Straight Life or Permanent Life)

All > Business > Finance > Insurance > Life Insurance

• A way to compare the costs of similar plans of life insurance. A policy with a smaller index number is generally a better buy than a comparable policy with a larger index number.

  Alabama Department of Insurance - Cite This Source - This Definition
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  Cite Definition for Cost Index

  American Psychological Association (APA)

  Cost Index. (n.d.). Glossary of Life Insurance Terms. Retrieved June 10, 2023, from website: http://www.expertglossary.com/definition/cost-index.

  Chicago Manual of Style (CMS)

  Cost Index. www.aldoi.gov. Glossary of Life Insurance Terms. Alabama Department of Insurance. http://www.expertglossary.com/definition/cost-index (accessed: June 10, 2023).

  Modern Language Association (MLA)

  "Cost Index." Glossary of Life Insurance Terms. Alabama Department of Insurance. 10 June. 2023 http://www.expertglossary.com/definition/cost-index.

• Browse Related Terms: Annuity, Convertible Term Insurance, Cost Index, Cost-Of-Living Rider, Guaranteed Insurability, Insured, policy, Policy Loan, Renewable Term Insurance, Straight Life Insurance, Term insurance, Term Rider, Universal life insurance, Whole Life Insurance (Straight Life or Permanent Life)

All > Business > Finance > Insurance > Life Insurance

• An option that permits the policyholder to purchase increasing term insurance coverage. The death proceeds increase by a stated amount each year, to coincide with an estimated increase in the cost of living.

  Alabama Department of Insurance - Cite This Source - This Definition
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  Cite Definition for Cost-Of-Living Rider

  American Psychological Association (APA)

  Cost-Of-Living Rider. (n.d.). Glossary of Life Insurance Terms. Retrieved June 10, 2023, from website: http://www.expertglossary.com/definition/cost-of-living-rider.

  Chicago Manual of Style (CMS)

  Cost-Of-Living Rider. www.aldoi.gov. Glossary of Life Insurance Terms. Alabama Department of Insurance. http://www.expertglossary.com/definition/cost-of-living-rider (accessed: June 10, 2023).

  Modern Language Association (MLA)

  "Cost-Of-Living Rider." Glossary of Life Insurance Terms. Alabama Department of Insurance. 10 June. 2023 http://www.expertglossary.com/definition/cost-of-living-rider.

• Browse Related Terms: Annuity, Convertible Term Insurance, Cost Index, Cost-Of-Living Rider, Guaranteed Insurability, Insured, policy, Policy Loan, Renewable Term Insurance, Straight Life Insurance, Term insurance, Term Rider, Universal life insurance, Whole Life Insurance (Straight Life or Permanent Life)

All > Business > Finance > Insurance > Life Insurance

• A variation of universal life insurance, this product involves fixed premiums and fixed death benefits. Its cash value growth depends on market conditions. If they are favorable and if premiums paid in the policy's first year are large enough, premiums for one or more years may be reduced to zero.

  Alabama Department of Insurance - Cite This Source - This Definition
  ×

  Cite Definition for Current Assumption Whole Life

  American Psychological Association (APA)

  Current Assumption Whole Life. (n.d.). Glossary of Life Insurance Terms. Retrieved June 10, 2023, from website: http://www.expertglossary.com/definition/current-assumption-whole-life.

  Chicago Manual of Style (CMS)

  Current Assumption Whole Life. www.aldoi.gov. Glossary of Life Insurance Terms. Alabama Department of Insurance. http://www.expertglossary.com/definition/current-assumption-whole-life (accessed: June 10, 2023).

  Modern Language Association (MLA)

  "Current Assumption Whole Life." Glossary of Life Insurance Terms. Alabama Department of Insurance. 10 June. 2023 http://www.expertglossary.com/definition/current-assumption-whole-life.

• Browse Related Terms: Accelerated Death Benefits, Accidental Death Benefit, Beneficiary, Cash Value (Cash Surrender Value), Current Assumption Whole Life, Double Indemnity, Face Amount, Living Benefits, Mortality Table, Rider, Variable Life Insurance