unborrowed policy cash value
Defined in 1 dictionary — U.S. Code
United States Code
26 U.S.C. § 264 — in this section (7 versions over time)
For purposes of this subsection, the term “unborrowed policy cash value” means, with respect to any life insurance policy or annuity or endowment contract, the excess of—
(A) the cash surrender value of such policy or contract determined without regard to any surrender charge, over
(B) the amount of any loan with respect to such policy or contract.