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Today's Word of the Day means...
the nonforfeiture value of a life-insurance policy payable to the insured in cash upon its surrender.
cash surrender value,
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Prize is non-transferrable, non-refundable and has no
These horses represented over half a million dollars
, which was entirely wiped out in a single week.
To work out whether this was money well spent, the authors surveyed the public to put a
on each crime prevented.
Yet his actual liability is limited--hence the name of the arrangement--to the
of his initial in vestment.
The benefit of such a transaction is larger, it seems to me, than simply its
Unfortunately, the cards are often stolen prior to cancellation for the
of the stamps.
Agents often use charts to show how a policy's
As such, it does not build up any
or paid-up value.
of revocable trusts available to the applicant.
Those funds, plus the earnings they generate, make up the
of the policy.
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