policy loan

Definition

Loan obtained by a policyholder from an insurance company against the cash surrender value of a whole life insurance policy. If the policy holder dies before the full repayment of the loan, the loan balance is deducted from the death benefit.

Popular 'Accounting & Auditing' Terms

policy loan in the news

Loading...

This content can be found on the following page:

http://www.businessdictionary.com/definition/policy-loan.html

Search for another term



Tools

policy loan is...

... in the Accounting & Auditing, Banking, Commerce & Finance and General, Marine, & Life Insurance subjects.

Nearby Terms

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z