Savings element

 

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Savings element

The 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 The premium is applied to give both life cover plus a savings element which is allowed to grow tax deferred until withdrawn.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 element

Used 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 Matches

Federal Savings and Loan Association

Federal Savings and Loan Association

An institution chartered by the federal government whose primary function is to collect savings deposits and to provide mortgage loans.


Savings rate

Savings rate

Personal savings as a percentage of disposable personal income.


Savings bank

Savings bank

An institution that primarily accepts consumer savings deposits and to make home mortgage loans.


National Savings Bank

National Savings Bank

The savings bank operated by the government's Department of National Savings. The majority of business is carried out through the Post Office.


Savings Association Insurance Fund (SAIF)

Savings Association Insurance Fund (SAIF)

A government organization that ../../finance-glossary/d the Federal Savings and Loan Insurance Corporation as the provider of deposit insurance for thrift institutions.


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