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Benefit period |
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Benefit periodA time period over which the interest rate of a loan is discounted, fixed or capped, for example.Benefit period Similar MatchesGuaranteed death benefitGuaranteed death benefitPolicies where the company will pay out a certain amount when you die. Final salary scheme (defined benefit scheme)Final salary scheme (defined benefit scheme)A pension scheme in which an employee's pension is based on number of years of service and final salary with each employer. In this type of scheme employees are typically provided with 1/60 of final salary for each year of service up to a maximum of 40/60 that is, two thirds of final salary. At retirement a tax free lump sum may be taken at the expense of a reduced pension. Family income benefit (family income assurance)Family income benefit (family income assurance)A type of term assurance in which, following the death of the life assured, instalments, rather than a lump sum, are paid to the beneficiary for the remainder of the policy term. If the life assured lives to the end of the term, no benefit is payable. Equivalent pension benefitEquivalent pension benefitThe benefit which an employer must give an employee who was contracted out of the old graduated pension scheme. Death and superannuation benefitDeath and superannuation benefitAn income tax allowance which can be claimed if certain payments are being made to friendly societies on combined sickness and life insurance policies.The allowance is half of the death benefit part of the premium. Also, relief is obtainable on trade union contributions which relate to superannuation, life insurance or funeral benefits. The allowance is half of the premium. Allowances for superannuation contributions to retirement benefit schemes are usually deducted by the employer before assessing tax on the remaining pay. Further Suggestionssickness benefitAccumulated Benefit Obligation (ABO) Pension Benefit Guaranty Corporation car benefit Fixed benefits defined benefit pension plan Net benefit to leverage factor Defined benefit plan Social benefit Unique Diversification Benefit fringe benefits Incremental costs and benefits Benefits Agency Equivalent annual benefit cafeteria employee benefit plan Private benefit incapacity benefit unfunded unapproved retirement benefits scheme benefits in kind unemployment benefit guaranteed death benefit accrued benefits Social Security benefits invalidity benefit Benefit |
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