face amount

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Face amount refers to what the words or numbers on the printed page of a financial instrument literally say. Often used in the context of life insurance, the face amount refers to the stated amount of money payable to the deceased’s beneficiaries at the time of loss or when the policy matures. This is exclusive of any additional features, such as accrued interest, accident insurance, or disability insurance.

[Last updated in February of 2022 by the Wex Definitions Team]