What does Emergency Fund mean? Read on to discover the definition & meaning of the term Emergency Fund - to help you better understand the language used in insurance policies.
An emergency fund, in the context of insurance, would refer to the feature in permanent life insurance policies that allow the insured to withdraw cash for the purposes of paying unexpected expenses or fulfilling other monetary needs. Moreover, a life insurance policy generally can serve as a last resort emergency fund.
We hope the you have a better understanding of the meaning of Emergency Fund.