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Savings element |
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Savings elementThe cash value which accumulates within a life insurance policy. The premium is applied to give both life cover plus a savings element which is allowed to grow tax deferred until withdrawn.Savings elementUsed in the context of life insurance, the cash value built up in a policy, which equals the amount of premium paid minus the cost of protection. This excess is invested by the insurance company, and the returns are tax-deferred inside the policy.Savings element Similar MatchesRegistered Retirement Savings Plan (RRSP)Registered Retirement Savings Plan (RRSP)Tax-sheltered retirement plan for Canadian citizens, much like an American IRA. Savings and loan associationSavings and loan associationIn the US, a financial institution in which depositors' savings are used to provide home mortgages loans. National Savings BankNational Savings BankThe savings bank operated by the government's Department of National Savings. The majority of business is carried out through the Post Office. Savings bankSavings bankAn institution that primarily accepts consumer savings deposits and to make home mortgage loans. Mutual savings bankMutual savings bankA state-chartered savings bank which is owned by its depositors and managed by a fiduciary board of trustees. Further SuggestionsTax Exempt Special Savings AccountNational Savings lifelong individual savings account Mutual Savings Bank Bonds Enabling Annual Retirement Savings (BEARS) Federal Savings and Loan Association Savings and loan association Individual Savings Account Savings deposits individual savings account Savings Association Insurance Fund (SAIF) Post Office Savings Savings And Loan Association Savings rate Savings bond savings account National Savings Stock Register Financing Cost Savings mutual savings bank |
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