"Equivalent value" refers to something that is considered equal or comparable in worth or importance to another thing. It means that two things or quantities have the same value, significance, or importance in relation to each other. Full definition
In such a situation, the remainder of the accrued cash equivalent value of the premium, or a percentage of such, could be paid out. (burialinsurancecoverage.com)
This is because a forex position initially consists of an exchange of assets of equivalent value in the form of different currencies. (vinsonfinancials.com)
A replacement value reimbursement is a payout in the amount of how much it would cost to buy the same or one of equivalent value at today's prices. (rentersinsurance.net)