A type of term policy where the face value remains the same from the effective date until the expiration date. See also Term Insurance.
A type of term policy where the face value remains the same from the effective date until the expiration date. See also Term Insurance.
The current cost of replacing an article with a similar one in the same condition. Any item has three basic values: original cost, actual cash value, and replacement value. For example, if you originally paid $400 for your living room couch, its actual cash value might be $175, but if it’s destroyed in a fire, replacing it will cost you $800.