face amount

Definition

The amount stated on an insurance policy, to be paid upon death or maturity.

Use face amount in a sentence

Linda was shocked when she found Frank's life insurance policy in the safety deposit box and the face amount was over $1,000,000.

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Jenn wanted some extra money to purchase a car, she cashed in an old life insurance policy that had matured so she could add the face amount to her funds.

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When researching insurance policies, elect to enroll in one that will pay out not only the face amount upon death or maturity, but any earnings/interest as well.

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principal paid over life of loan adjustment provision