face amount


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face amount

n. the original amount due on a promissory note or insurance policy as stated therein, without calculating interest.

face amount

noun exact amount, precise amount, sum, sum shown, sum stated, total
References in periodicals archive ?
New whole life premiums and face amount declined 9%, and the number of policies sold fell 5%.
Although whole life was the leader in terms of revenue from new sales, UL products enjoyed the fastest growth in number of policies sold and total face amount.
Writers Face Amount In Force 2007 ($ Trillions) Metropolitan Life & Affiliated Cos.
When an individual or business engages in a life settlement transaction, the amount it recoups is based on the policy's face amount and cash surrender value as well as other factors, such as the insured's health, age and the current policy premium.
The court, in an opinion by Judge Kozinski, reviewed numerous rules of corporate taxation and concluded that the shareholder's note should be respected and have a basis equal to its face amount,(1)(*) The opinion begins with an overview of the rules concerning tax-free incorporation, which, the court said, should be "pain-free from a tax point of view.
When a letter of credit is posted in lieu of a cash security deposit, the letter of credit provides that the landlord will be entitled to be paid by the tenant's bank up to the face amount of the letter of credit upon presenting to that bank (1) the original letter of credit; (2) a sight draft, which merely directs the bank to pay the proceeds of the letter of credit to the landlord; and, in most cases, (3) a statement signed by the landlord specifying why the landlord is drawing on the letter of credit (i.
Deutsche Bank Trust Company Americas, as Trustee and Issuing and Paying Agent, will draw on the LOC at the times and in amounts that are sufficient to provide for the timely payment of the principal and interest or face amount on maturing Notes.
Around USD913,723,000 in aggregate face amount of Old Class A Certificates have reportedly been confirmed as tendered, as of close of business on 9 April 2008, in exchange for like face amounts of the New Class A Certificates.
The amendments to the Small Face Amount Life Insurance Policies model act that were adopted emphasize disclosure to the contract holder.
The third party then markets its life insurance policy inventory through its network of insurance agents and financial planners, who earn commissions based on the face amount for identifying and arranging for the sale of policies to investors.
When a debt instrument is issued at a face amount greater than the amount loaned, the difference is deductible as OID over the loan's life, under Sec.
Where the purchaser merely promises to pay the face amount of the purchase price in the future, however, there is some question whether (1) the promise constitutes "property" within the meaning of section 1001(b), the value of which must be reported in the year received or (2) the seller may be considered to have received "property" only when the purchaser's promise to pay is fulfilled.