The portion of the premium applied to purchase pure insurance is known as the:

Cash value is a feature associated with certain types of life insurance policies, particularly whole life insurance. It represents the savings component that accumulates over time, distinct from the mortality cost, which pertains specifically to the cost of insurance coverage itself. Therefore, cash value does not reflect the portion of the premium that directly purchases pure insurance.

Loading charge refers to the additional costs added to the premium to cover administrative expenses, commissions, and other overheads. While it is a part of the total premium, it does not contribute to the pure insurance coverage, which is specifically represented by the mortality cost.

The net premium is the portion of the premium that is calculated after deducting the loading charge from the gross premium. It represents the pure insurance amount without additional costs but does not specifically designate the component that covers mortality risk, which is captured by the mortality cost.