policy loan

noun
: a loan granted by the insurer to the holder of a life insurance policy in an amount no greater than the cash value of the policy

* * *

Insurance.
a loan made by a life-insurance company to a policyholder with the cash value of the policy serving as security.

Useful english dictionary. 2012.

Look at other dictionaries:

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  • policy loan — Insurance. a loan made by a life insurance company to a policyholder with the cash value of the policy serving as security. * * * …   Universalium

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  • policy — pol‧i‧cy [ˈpɒlsi ǁ ˈpɑː ] noun plural policies 1. [countable] also inˈsurance ˌpolicy INSURANCE a contract with an insurance company, or an official written statement giving all the details of such a contract: • She did not realize that her… …   Financial and business terms

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