MANAGEMENT

Detailed explanation-1: -The face value of life insurance is the dollar amount equated to the worth of your policy. It can also be referred to as the death benefit or the face amount of life insurance. In all cases, life insurance face value is the amount of money given to the beneficiary when the policy expires.

Detailed explanation-2: -Face value can be found in the statement of benefits. Permanent life insurance may also have a cash value less than the face value, which is the amount that would be paid if the policyholder opts to surrender the policy early.

Detailed explanation-3: -Endowment insurance provides for the payment of the face amount to your beneficiary if death occurs within a specific period of time such as twenty years, or, if at the end of the specific period you are still alive, for the payment of the face amount to you.

Detailed explanation-4: -A death benefit is the primary reason someone purchases a life insurance policy; it’s the amount of money your insurer will pay out to your beneficiaries if you die during the policy’s term.