National Insurance


 

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National Insurance

A form of taxation, payable by employees, employers and the self employed, which is notionally to fund state benefits including pensions, sickness, unemployment and maternity. It is part of the state's social security system and ultimately controlled by the Department of Social Security.



Similar Matches

Unemployment insurance

Unemployment insurance

Another form of income protection, but one that does not cover any form of sickness, injury or disability. The purpose of this type of policy is to replace income lost through a short to medium term period of redundancy. It provides you with a monthly tax-free income to cover a portion of your lost earnings. It is often sold in conjunction with the accident, sickness and disability element of income protection policies, in which case it is known as Accident, Sickness and Unemployment (ASU).


National Insurance (NI) Basic Pension

National Insurance (NI) Basic Pension

The basic state pension funded by a person's National Insurance Contributions over his working life and part of the National Insurance Pension. The rate at which the basic pension is paid is dependent on the person's National Insurance contributions record over his working life.


Named perils insurance

Named perils insurance

An insurance policy that names specific risks covered by the policy.


First death insurance

First death insurance

A joint-life insurance policy which pays money to a surviving partner on the first partner's death.


Endowment insurance

Endowment insurance

A cash value life insurance policy with a fixed term. Premiums are applied to give life insurance cover for the face amount and at the end of the term the cash value will equate to the face amount and be payable.


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