TERMIUM Plus®

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INCOME PROTECTION POLICIES [2 records]

Filter results by subject field Alphabetical list of terms

Filter results by subject field

Alphabetical list of terms

Record 1 2009-03-26

English

Subject field(s)
  • Life Insurance
CONT

If you surrender a policy with cash value, you get back the premiums you paid plus the earnings(if any), minus the cost of the insurance protection and any surrender charges(usually in the first 10-20 years). In addition, you must pay ordinary income tax on any cash value gains you receive; a tax that you had previously avoided because of the tax deferral afforded to the build-up of cash in permanent insurance policies.

OBS

The operation by which a policyholder relinquishes his or her cash value life insurance policy is called a "surrender".

French

Domaine(s)
  • Assurance sur la vie
CONT

Autrement, le syndic de faillite (contrairement au créancier judiciaire ordinaire) «prend la place» de l'assuré et peut donc racheter la police quand elle est payable au patrimoine de l'assuré ou à un bénéficiaire qui n'est pas un membre de la famille, dans les circonstances où l'assuré lui-même pourrait le faire.

OBS

L'opération par laquelle un assuré met fin à sa police d'assurance-vie avec valeur de rachat en vue d'obtenir une somme (la valeur de rachat) se nomme le «rachat».

Spanish

Save record 1

Record 2 1976-06-19

English

Subject field(s)
  • Economic Doctrines, Systems and Policies

French

Domaine(s)
  • Doctrines, systèmes et politiques économiques

Spanish

Save record 2

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TERMIUM Plus®, the Government of Canada's terminology and linguistic data bank
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