TERMIUM Plus®

The Government of Canada’s terminology and linguistic data bank.

MINIMUM DEPOSIT INSURANCE [1 record]

Record 1 1987-03-11

English

Subject field(s)
  • Insurance
DEF

a technique of borrowing against nonforfeiture (cash, loan or surrender) values in order to minimize the cash outlay for premium payments.

OBS

Created primarily for high tax level insurance buyers, the plan is designed to take advantage of the tax deductibility of the interest paid on the loan. The borrowed money may have come directly from the insuring company or from a lending institution (such as a bank) with the cash value acting as collateral.

French

Domaine(s)
  • Assurances

Spanish

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