A pension scheme that set out the benefits payable to members irrespective of any contributions paid or investment gains made. An example is a final salary pension scheme, where payments are calculated as a proportion of the member's earnings at or near the date of retirement.
An annuity (or pension) due to be paid from a future date or when the policyholder reaches a specified age. A deferred annuity may be funded by the policyholder by payment of a series of regular contributions or by a capital sum.
A fixed interest security issued by a company or government agency, usually secured on its assets, with a long-term redemption (repayment) date between 10 and 40 years ahead. If a company goes bust, debenture stockholders are first in line to be repaid before the other stockholders and shareholders.
This is the statement or section of the form where the person is required to declare that the statements or answers are given fully and truthfully and that if it were not so, there would be legal consequences.
The date on which cover begins, following acceptance of the risk by the insurer.
A life insurance policy with the benefits payable on diagnosis of one of a number of specified medical conditions.
The coroner is the person who is legally authorized by the government to determine the cause of death, when this is in doubt, or if there has been death which is not deemed to be due from normal illnesses. He or she does it by examining the evidence submitted including autopsy or post mortem reports, medical reports and statements from witnesses. The coroner is usually a magistrate or someone who possess legal qualification.
Fund value or total benefit amount available on maturity or death.
An umbrella heading for how companies approach their involvement with issues such as environmental management, local communities, employees, human rights, health and safety at work, suppliers, customers and standards of business conduct.
Earnings on an investment's earnings. Over time, compounding can produce significant growth in value of an investment.
