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thank you, come again!
Froogle 1.1.1.7
Froogled By:
Elias Makere, FSA, MAAA
Last Froogled:

VALUE

1. the monetary worth of a thing;

2. the marketable price;

3. the estimated/assessed worth [of something].
The method of determining an object’s value will vary depending upon the purpose for which it is being determined.
• For estate and gift tax purposes, value is the price that a willing-buyer would pay a willing-seller if:
(a) neither is compelled to buy/sell; and

(b) both have reasonable knowledge of the relevant facts.
• For insurance purposes, value may refer to replacement value (ie, the cost of replacing an object), rather than its fair market value.
see book value; capitalized value; cash surrender value; diminution in value; face value; going concern value; net asset value; par value; probative value;
Congratulations! You're now Froogled Up™ on what "Value" means!

Feel free to use it throughout your financial/insurance life.

Sincerely,



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