The amount that accumulates in a life insurance policy is called

Loan value is the amount a policyholder can borrow against their life insurance policy, not the total accumulation. While it is tied to the cash value, it represents only a portion of that value and is contingent on the policyholder taking a loan rather than accumulating funds.

Face value is the amount that will be paid out upon the death of the insured, but it does not reflect any accumulation during the policyholder's lifetime. It is a fixed amount stated in the policy that does not change over time or contribute to the policy’s cash accumulation.

Surrender value refers to the amount a policyholder will receive if they choose to terminate the policy before its maturity or before death occurs. While it is related to the cash value, surrender value may be less than the total cash value due to surrender charges and fees, making it not synonymous with the accumulation aspect of the policy.