LOAN VALUE
loan value. Insurance.
1. The maximum amount that may be lent safely on property or life insurance without jeopardizing the lender’s need for protection from the borrower’s default.
2. The amount of money an insured can borrow against the cash value of his or her life-insurance policy. [Cases: Insurance 1868. C.J.S. Insurance ¡ì¡ì 352¨C356.]
What is the preferred translation of the term LOAN VALUE by Chinese lawyers?
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