Business and Personal Finance Dictionary

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• CASH VALUE
  
  Cash value is the amount that an account is worth at any given time. For example, the cash value of your 401(k) account is what your account is worth at the end of the plan year, often December 31. The cash value of an insurance policy is the amount the insurer will pay you, based on your policy's cash reserve, if you cancel your policy. The cash value is the difference between the amount you paid in premiums and the actual cost of insurance plus other expenses.
  
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