Occurs when a pension scheme member in poor health retires early. The pension may be higher than the amount that would have been achieved by an early retirement for other reasons.
Tag: RAW
Illegal Contract
It is a contract, which is contrary to law and against the interests of public. It cannot be sustained and does not have legal effect.
Illegal occupation provision (Health Insurance)
A clause that states the insured is not covered for losses that arise if he or she tries to commit a felony. Coverage is also voided if the insured is working at an illegal occupation.
Illness perils
Insurance category used by health insurance underwriters to review the type and degree of peril of particular jobs such as exposure to dust, poisons, and extreme temperatures.
Illustration
A life, pensions or investment estimate given in respect of the returns a person might get on their contributions or investment. It usually shows the expected outcome for different levels of be growth. The actual returns may higher or lower than the estimates provided. The illustration is an ‘invitation to treat’ not an offer.