Definitions for "Policy proceeds"
The amount of benefits the beneficiary receives after all adjustments, fees, and other factors are taken into consideration.
The amount that a beneficiary actually receives from a life insurance policy after all adjustments have been made to the basic death benefit for dividends, policy loans, late payments, etc.
The proceeds of a policy refers to the combination of your investment, either by way of recurring premiums or a single premium investment, plus the investment growth that is paid out to you after the policy term, usually five or ten years with new generation policies, but may be longer, as in the case of certain endowment policies or retirement annuities.