face amount
Definition 1
Banking: (1) Amount written on a check—the sum its payee is entitled to draw. (2) Principal sum advanced under a loan or mortgage agreement.
Definition 2
Insurance: Sum of money for which an insurance cover is obtained, usually shown on the top sheet (face) of the policy. In life insurance, face amount is the sum paid on the policy's maturity date, on the death of the insured, or (if the policy terms permit) on his or her total disability.
face amount is in the Banking, Commerce & Finance and General, Marine, & Life Insurance subjects.
face amount appears in the definitions of the following terms:
life insurance,
term life insurance,
accelerated benefits,
debris removal clause,
endowment insurance,
discount,
check clearing,
acceleration life insurance,
death benefit,
fiat currency
and
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