The phrase "valued part" refers to something or someone that is important, appreciated, or highly regarded in a particular situation or context. Full definition
Any increases in the cash value part of the policy due to investment or interest gains will be tax deferred until the money is withdrawn from the policy. (irs.com)
If the cash value part of a permanent life insurance policy becomes very high, the funds turn into what is called a modified endowment contract. (insuranceproviders.com)
A noteworthy value part in vehicle insurance is miles driven every year. (autoinsuranceinvest.net)