Establishes a life insurance policy’s guaranteed cash surrender value by an index shown to potential insureds. Interest accumulates on any applicable dividends calculated at 5 percent. The index shows the policy’s surrender value at 10 or 20 years.
Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.
Establishes a life insurance policy’s guaranteed cash surrender value by an index shown to potential insureds. Interest accumulates on any applicable dividends calculated at 5 percent. The index shows the policy’s surrender value at 10 or 20 years.
Powered by Black’s Law Dictionary, Free 2nd ed., and The Law Dictionary.