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Definition of Appraisal Value
An estimate of the market value of the property.
This is the amount available to the owner of a life insurance policy upon voluntary termination of the policy before it becomes payable by the death of the life insured. This does not apply to term insurance but only to those policies which have reduced paid up values and cash surrender values. A cash surrender in lieu of death benefit usually has tax implications.
The sum of all the interest options in your policy, including interest.
An amount of money invested plus the interest earned on that money.
The amount of cash payable on a benefit.
Benefit that entitles a policy owner to an amount of money upon cancellation of a policy.
The process of determining the value of property, usually for lending purposes. This value may or may not be the same as the purchase price of the home.
A written report by a qualified appraiser estimating the value of a property.
The dollar value of an asset assigned by a public tax assessor for the purposes of taxation.
An expert valuation of property.
A measure of insulation. A measure of a material's resistance to the passage of heat. The higher the R value, the more insulating "power" it has. For example, typical new home's walls are usually insulated with 4" of batt insulation with an R value of R-13, and a ceiling insulation of R-30.
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