(Of an insurance policy) allowing the holder to receive a share of the profits made by the company, typically in the form of a bonus.
- The shares will be distributed to all holders of a with-profits insurance policy at the time of listing.
- In addition to scrapping its mortgage promise, it announced changes to the way it is to pay bonuses to its with-profits customers.
- In cashing in the policy you will miss out on the terminal bonus, which in the past has made up a major proportion of maturity value of with-profits policies.
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.