Benefits that the trustees of a final salary scheme can grant to enhance a member’s retirement subject to IR maximum limits. The employer could ask the trustees to enhance a member’s retirement benefit on early retirement, redundancy, ill health or death in service benefits, or escalate the pension at a rate above LPI. The trustees can use their discretion to award a lump sum benefit on death to any individual, not necessarily the person nominated by the member.

Occupational pension scheme where membership is by employer invitation only and where the benefits and contributions may vary from one member to another. Although discretionary, there must be equal access and no discrimination in terms of benefits on grounds of race, religion, sex or disability.

An approach to partnership insurance to minimise the number of policies necessitated under individual trust policy arrangements. Each partner effects one policy on his own life under a discretionary trust in favour of the other partners who are normally the trustees in whom the proceeds are vested. When a claim arises they are then able to apportion the proceeds among themselves to repay the deceased or retiring partner’s share of the business.

An insurance available to local authorities to protect them in respect of their legal liability to vehicle owners whose vehicles they have removed as abandoned.

A distance contract to provide advice or information on non-investment insurance contracts, other than simply as part of the marketing stage in the sale of a contract. Specific FSA rules (ICOB 8) apply to these contracts with retail customers to implement the Distance Marketing Directive although such contracts rarely arise in the retail market.

Sales that are not conducted face-to-face, such as sales through the post, over the Internet or telephone or by fax or digital television. FSA rules take account of the Distance Marketing Directive. The initial contact disclosure for telephone sales involves disclosing the name of the firm, and, if the contact is initiated by the firm, the purpose of the contact. The name of the person in contact with the customer must also be given and his link with the firm. See DISTANCE NON-INVESTMENT MEDIATION CONTRACT.

the means by which a direct insurer markets its products to prospective policy holders (for example, agents, brokers, branches).

Factor in the rating of motor insurance premiums. The incidence of vehicle accidents varies directly with the density of the population in given districts. Private car insurers generally divide the country into six districts for this purpose while commercial vehicle insurers use three districts for goods-carrying vehicles.