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LSDefine

Simple English definitions for legal terms

face of policy

Read a random definition: GMI

A quick definition of face of policy:

Face of policy: The term "face of policy" refers to the amount of money that an insurance policy will pay out in the event of a claim. It is also known as the face amount or face value. The face of policy is the maximum amount that the policyholder can receive, regardless of the actual cost of the loss or damage. For example, if a policy has a face value of $100,000, the insurance company will pay out up to $100,000 for any covered claim.

A more thorough explanation:

Definition: The term "face of policy" refers to the amount of money that an insurance policy will pay out in the event of a claim. It is also known as the "face amount" or "face value" of the policy.

Examples:

  • John purchased a life insurance policy with a face value of $500,000. This means that if he were to pass away, his beneficiaries would receive a payout of $500,000.
  • Mary's car was damaged in an accident, and she filed a claim with her auto insurance company. The face value of her policy was $10,000, which is the maximum amount that the insurance company would pay out for the damages.

These examples illustrate how the face of policy represents the maximum amount of money that an insurance policy will pay out in the event of a claim. It is important for policyholders to understand the face value of their policies so that they can ensure they have adequate coverage for their needs.

face amount insured by the policy | facial challenge

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babycat
16:16
@jackfrost11770: personally I would submit an updated resume reflecting the new position instead of a paragraph but idk what SOP is
getting a bacon egg and cheese in celebration
1a2b3c4d26z
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lfg baby you earned that
babycat
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also congrats!! big win
initiallaw
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congrats!!
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the big W is that i get reimbursed for travel now thank GOD
jack moving up in the world :)
i have a brother named jack, so whenever i see your name im marginally happier than normal
babycat
16:37
I'm guessing you don't have a sibling named babycat but I hope I still make you marginally happier than normal despite this
JumpySubsequentDolphin
16:38
maybe he has a babycat
babycat
16:38
I think everyone should have a babycat
JumpySubsequentDolphin
16:39
im allergic to baby cats >:(
JumpySubsequentDolphin
16:40
I used to have a babycat, I only got allergies after he died
JumpySubsequentDolphin
16:40
I think he’s haunting me
babycat
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:(
babycat
16:40
that's too bad
babycat
16:40
you still have me though <3
@babycat: you make my day marginally happier with your scathing wit
16:43
New Father John Misty album out today
16:44
People saying it’s his best yet by far
babycat
16:45
what would I do without you renard99
awww ty wasp :)
i have 4 (baby) cats!
16:46
Damn you know her sarcasm is meant to be scathing when she calls me by my full username and not just Renard
JumpySubsequentDolphin
16:47
@jackfrost11770: FOUR?!??
16:48
I’m only teasing Babycat ily I’ll be seeing you in [REDACTED] very very soon
YES
and they're all rescues from breeders so they're all long haired persians .... w flat faces ....
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