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Glossary > S > "Savings element" Definition

Savings element

The cash value which accumulates within a life insurance policy. The premium is applied to give both life cover plus a savings element which is allowed to grow tax deferred until withdrawn.

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Savings element - The cash value which accumulates within a life insurance policy. The premium is applied to give both life cover plus a savings element which is allowed to grow tax deferred until withdrawn.

Savings element : the cash value which accumulates within a life insurance policy. the premium is applied to give both life cover plus a savings element which is allowed to grow tax deferred until withdrawn.