Monday, February 12, 2007

Terminology - Participating & Non-Participating Policies

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.

Non-Participating Policies

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.


Adam said...

As affordable term life insurance policies are for a specific time period it is also cheaper when compared to the full life insurance policy. You can purchase a policy which is offered between 10 year term life insurance plan to 30 years’ plan.

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