[N037]

net cash value

The amount that will be paid the insured or the insured's beneficiary at the time of the insured's death, or the amount paid should the insured surrender the policy for its cash value. It is calculated by taking the cash value and subtracting any loans that may still be outstanding, and adding any dividends that may have accumulated which have not been used for premium payment on other options.

Copyright: The Rough Notes Company, Inc., 1998, All Rights Reserved. 3040100