Use our Jargon Buster to cut through the complicated language financial services companies sometimes use, and find out what it really means. The list is in alphabetical order so you can scroll down to look up words and their meanings:
Whole of life Life assurance that you pay premiums into for the whole of your life, and which pays out whenever you die. Because it also builds up a cash value, it can be used as an investment for your beneficiaries.
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With-profits policy A type of life insurance policy, which gives you a share of the profits of a life fund, as well as giving you life insurance cover. Premiums are higher than for a straightforward life insurance policy.
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With-profits endowment A with-profits endowment is a savings product which usually includes life cover. It pays you at least a fixed amount if you die before the policy matures or the sum assured plus any bonuses that may have been added over the term, at maturity.
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