Monday, February 12, 2007
Terminology - Participating & Non-Participating Policies
Also known as With-Profit policies.
Refers to life insurance products that share in the profits or surplus of the insurance fund. Policy owners will receive bonuses from the insurer resulting in a death benefit that is greater than the basic sum assured as well as a cash value to the policy.
Also known as Without-Profit policies.
Refers to life insurance products that do not share in the profits of the insurer. Policy owners will not be entitled to any bonus payment from the insurer.