Amount of money (cash surrender value) that the policy owner of a life insurance policy may borrow at interest from the insurer.
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UK: a loan made by a life insurer to a policyholder on the security of the surrender value of the policy.
The Rantings of the barely human.
Amount of money (cash surrender value) that the policy owner of a life insurance policy may borrow at interest from the insurer.
***
UK: a loan made by a life insurer to a policyholder on the security of the surrender value of the policy.