What Does Face Value Mean On A Life Insurance Policy?
- 1165 POINTSview profileChris AbramsFounder, Abrams Insurance Solutions, Inc., San Diego, CAFace value is the death benefit of the life insurance policy. It is the amount that will be paid out at the death of the insured. The face amount can range from thousands to millions. This face amount is transferred at death to the beneficiaries of the policy with no income tax.Answered on May 31, 2013flag this answer
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63333 POINTSview profilePeggy MaceMost of the U.S.The face amount of a life insurance policy is the amount of coverage that was purchased. If a loan was taken out against the policy, if the policy was graded, or if the policy had strong growth over many years, the amount that is paid to the beneficiary may be lower or higher than the original face amount.Answered on February 11, 2015flag this answer
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