Definitions for "Account Value or Accumulation Value"
In Universal Life policies, the accumulated premiums and interest after expense charges, cost of insurance, and charges for any supplemental benefits or riders. It is used to determine the policy's amount-at-risk in calculating mortality charges. A surrender charge is applied to it to determine the loan and surrender cash value.
The accumulated premiums and interest after expense charges, cost of insurance, and charges for any supplemental benefits or riders in Universal life Insurance policies. Used to determine the policy's amount-at-risk in calculating mortality charges.