Definition from Nolo’s Plain-English Law Dictionary
Any amount available to the owner of an insurance policy other than the actual proceeds of the policy. Avails include dividend payments, interest, cash or surrender value (the money you would get if you sold your policy back to the insurance company) and loan value (the amount of cash you can borrow against the policy).
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:11 pm