Policy loan

Definition:

A loan often made at a below-market interest rate from an insurance company to a policyholder that is secured by the cash surrender value of a life insurance policy.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Revaluation

An increase in the foreign exchange value of a currency that is pegged to other currencies or gold.

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