Whole life or endowment policies that guarantee a fixed sum on death or, in the case of endowments, survival without any bonus addition. They are also called non-participating policies as they do not participate in the insurer’s profits.

Indicates that if an annuitant dies during the interval between two annuity payment dates, there will be no payment for the period between the payment preceding death and the date of death.

assurances providing only a fixed sum assured.