An annuity under which the insurer guarantees to make total gross annuity payments equal to the purchase price regardless of the date of death.
Tag: RAW
Capital provider
As regards a Lloyd’s syndicate, its member(s). As regards a company, its shareholders.
Capital redemption
business other than life insurance whereby in return for one or more premiums a sum or series of sums is to become payable to the insured in the future.
Capital redemption policy
Policies, unrelated to human life, whereby a company regularly sets aside money so that on maturity it can retire its bonds, debentures or preferred stock. The so-called ‘sinking fund’ also enables the company to replace wasting assets such as leases (leasehold redemption policies). The policies are long-term business but not part of the life fund.
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A Policy that provides a specific sum of money after a specific interval (also known as a Sinking Fund Policy)
Capital stock
Investment certificates that represent the amount of money or property contributed by shareholders invested to provide money for a corporation to do business and buy equipment.
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The ownership of a corporation as expressed in individually or jointly held shares of stock.
Capital stock company
An insurance company owned by stockholders rather than by its policyholders.
Capital Stock Insurance Company
A Company having an addition to surplus and reserve funds and capital fund paid in by Stock Holders.
Capital sum
A specified payment for accidental dismemberment or loss of sight.
Capital Sum Insured (CSI)
The amount specified in a Personal Accident Insurance Policy for payment in the event dismemberment and sight losses to the insured or on death of the insured to the nominee.
Capital Transaction
The sale of a capital asset, such as stock, which results in the transaction being taxed as ordinary income and not as a dividend.