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by Answerbag Staff on May 29th, 2010

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What is the difference between cash&face value in life insurance?

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  • by Amanda Sykora on May 29th, 2010

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    Great Answer

    Professionally Researched. (What's this?)

    Face value is the amount your beneficiaries will receive when you die, provided you have not borrowed money against the policy. Cash value, found only in permanent life insurance policies, is the amount you can borrow against or surrender your policy for.

    Source:

    New York State Insurance Department: Whole Life Insurance

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