A practice based on the assumption that women outlive men and will be paying premiums for a longer period, wherein a number of years are subtracted from standard life insurance rates. This is considered a women’s rights matter and has been brought to legislation in some states.
Tag: LIFE
Age-weighted profit-sharing plan
A plan wherein larger contributions are made for older participants. After compound interest has been added, the smaller contribution made for the younger employee will equal the same retirement benefit as the larger one.