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cash on hand. Definition. Funds that are immediately available to a business, and can be spent as needed, as opposed to assets that must be sold to generate cash. The amount of cash on hand determines what projects a company can undertake, or what financial hardships can be absorbed, without going into debt or arranging other financing.
cash value. Definition. The amount available in cash upon cancellation of an insurance policy, usually a whole life policy, before it becomes payable upon death or maturity. also called cash surrender value or surrender value. Use cash value in a sentence. â 1  The cash value of the policy was substantial so we decided to cancel the policy and receive the infusion of liquidity. â 2  I noticed that I had a lot of cash value and that was good because I needed it badly and could not afford insurance anymore.