Definition of life insurance in force

amount of life insurance that a company has issued, including the face amount of all outstanding policies together with all dividends that have been paid to policyholders. Thus a life insurance policy for $500,000 on which dividends of $10,000 have been paid would count as life insurance in force of $510,000.

aggregate of face amount of coverage paid up, or on which premiums are still being paid, as issued by a life insurance company. This is one measure used to rank life insurance companies by size.