face amount of policy
- The amount of straight life insurance provided by a life insurance policy, without giving effect to additional indemnity provisions. Pierce v Businessmen's Assur. Co. (Mo) 333 SW2d 97.
Ballentine's law dictionary. Anderson, W.S.. 1998.
Look at other dictionaries:
face amount — n: the amount of money payable under an insurance policy at the time of a loss Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. face amount … Law dictionary
face amount — Quantity expressed as an amount representing the face amount, i.e. the principal, of a debt instrument. Euroclear Clearing and Settlement glossary * * * face amount face amount ➔ amount1 * * * face amount UK US noun [C] US ► INSURANCE the amount… … Financial and business terms
face amount insured by the policy — Within statute relating to extended life insurance, means the amount which is, in all events, payable under the policy as straight life insurance without regard to additional features such as accident or disability insurance. Wilkins v.… … Black's law dictionary
face amount — The original amount due on a promissory note or insurance policy as written in the document, without any calculation of interest … Business law dictionary
face value — n: the value indicated on the face of something (as a stock certificate) Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. face value I … Law dictionary
policy — The general principles by which a government is guided in its management of public affairs, or the legislature in its measures. A general term used to describe all contracts of insurance. See policy of insurance. This term, as applied to a law,… … Black's law dictionary
amount — ▪ I. amount a‧mount 1 [əˈmaʊnt] noun [countable, uncountable] a quantity of something: • debts that vary in amount • Figures show a big rise in the amount of money in the economy. • You must pay the full amount in advance. • a cheque in… … Financial and business terms
amount at risk — the difference between the face amount of a life insurance policy and its reserve value * * * Insurance. the difference between the reserve of a life insurance policy and its face amount … Useful english dictionary
face of policy — A phrase which, as used in a statute forbidding life insurance policies to contain provision for any mode of settlement at maturity of less value than the amount insured on the face of the policy, does not mean merely the first page, but denotes… … Black's law dictionary
face value — The value of an insurance policy, bond, note, mortgage, or other security, as given on the certificate or instrument, payable upon maturity of the instrument. The face value is also the amount on which interest or coupon payments are calculated.… … Black's law dictionary