Sentences with phrase «value at policy inception»
The $ 85,000 is an approximation of the cash value at policy inception.
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This can happen if the expected interest paid on the accumulated value of the policy is less than originally assumed at the time of purchase, or if other charges (i.e. mortality charges) increase beyond what is assumed when the premium is calculated at inception.
Insured and insurance company agrees on an insured value at the inception of a policy for a collect - able or antique car that does not depreciate.