What is the Definition of Face Amount?
For a fixed-amount whole life insurance policy, the amount of the death benefit payable if the insured person dies while the policy is in force.
Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/
Label: Insurance
Theme: Dictionary of Insurance Terms
Other Questions: What is the definition of Annuity?
What is the Definition of Face Amount?
You can find random definition and meaning of insurance terms below:
Meaning of Section 415 in Insurance Terms
A section of the Internal Revenue Code that provides for dollar limitations on benefits and contributions under qualified retirement plans. Section 415 also requires that the Internal Revenue Service annually adjust these limits for cost-of-living increases.
Meaning of Securities And Exchange Commission/Sec in Insurance Terms
The organization that oversees publicly held insurance companies. Those companies make periodic financial disclosures to the SEC, including an annual financial statement (or 10K) and a quarterly financial statement (or 10-Q). Companies must also disclose any material events and other information about their stock.
Meaning of Securitization Of Insurance Risk in Insurance Terms
Using the capital markets to expand and diversify the assumption of insurance risk. The issuance of bonds or notes to thirdparty investors directly or indirectly by an insurance or reinsurance company or a pooling entity as a means of raising money to cover risks. (See Catastrophe bonds)
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