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14:17 Jul 14, 2013 |
Danish to English translations [PRO] Bus/Financial - Insurance | |||||||
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| Selected response from: Adrian MM. (X) Local time: 14:06 | ||||||
Grading comment
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Summary of answers provided | ||||
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4 | paid-up policy benefit |
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paid-up policy benefit Explanation: Maybe a coincidence that friholdt vaerdi has been recently asked and IMO is strongly related. Fripolice: free or paid-up policy (Bailey's DK>EN Handels- og Fagordbog). Example 1: X's employers (misguidedly) switch company pension scheme after 10 years with AB to Equitable Life. Company pension AB and any linked life assurance become paid up. Any benefit, albeit short of the amount that would have been payable on X's full retirement, can be paid out without any discount pre-retirement. Example 2: X changes address outside of the UK for a personal pension AB taken out after becoming freelance and valid only for UK residents. Co. AB stops the personal pension and make it a paid-up plan. Any benefit payable before retirement age is subject to a penalty deduction. X will need to wait to 65 for the full paid-up policy benefit. Example sentence(s):
Reference: http://www.proz.com/kudoz/danish_to_english/insurance/526856... |
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