What Is The Face Value Of A Term Life Insurance Policy?
10968 POINTSview profileTim WilhoitOwner, Your Friend 4 Life, Brentwood TNThe face value of a term life insurance policy is referring to the death benefit. It is the amount of money that the beneficiary will receive at the time of death claim of the insured on the term life insurance policy. Usually these face amounts are set at a guaranteed amount for the entire term of the policy.Answered on November 29, 2014flag this answer.JPG)
63333 POINTSview profilePeggy MaceMost of the U.S.The face value of a life insurance policy is the amount that the beneficiary would receive if the insured person passed away. People select the face value of their policy at the time when they purchase the policy. It is also called the death benefit, face amount, or coverage amount.Answered on November 29, 2014flag this answer
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaThe face value is the obligation of the insurance company should the insured die during the term of the policy. It is stated on the declarations of the policy. Regardless of the time the policy has been in force or the sum of the premiums paid the company is obligated to pay that amount to the beneficiaries that the insured selected.Answered on January 14, 2015flag this answer
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