What does Add to Cash Value Option mean? Read on to discover the definition & meaning of the term Add to Cash Value Option - to help you better understand the language used in insurance policies.
Add to Cash Value Option
Add to cash value option is a feature in a universal life insurance where the policyholder turns over the cash value to the face value of his or her policy. The death benefit to the beneficiary is higher than the usual fixed amount. The premium for this option gets higher, too.
We hope the you have a better understanding of the meaning of Add to Cash Value Option.