MEDICAL,USA: Dollar amount in a life insurance policy that is payable at the time of death of the insured or in an annuity when the contract reaches maturity. It does not include additional dollar amounts payable under other special provisions, accidental death, or policy dividends. Also called face value . See also basic death benefit and death benefit .
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Generally used to mean the amount of insurance provided.
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The amount of insurance provided by the terms of an insurance contract, usually found on the face of the policy.
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The dollar amount to be paid to the beneficiary when the insured dies. It does not include other amounts that may be paid from insurance purchased with dividends or any policy riders.
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The total amount of coverage provided by an insurance contract, as stated on the face.