With Profits definition

With Profits means an insurance contract that participates in the profits of an insurance company. The insurance company aims to distribute part of its profits to with-profits policyholders in the form of bonuses.
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With Profits means that the contributions that were formerly paid by the members and the employers on their behalf, are pooled together with money from other pension plans that are invested in the same way and invested in Phoenix Life’s conventional SAL With Profits Fund.
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With Profits means an investment product of an insurance company described in further detail in the section headed "Investment Objective and Strategy" below.
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Examples of With Profits in a sentence

  • In terms of clause 45(d) of IRDAI (Non-Linked Insurance Products) Regulations, 2013, the Board of Directors had constituted the With Profits Committee.

  • It gets a share of the profits emerging from the Company’s With Profits business in the form of bonuses.

  • However, before any changes are made, the Board will formally consult with and take into account the opinions of the With- Profits Actuary and the With-Profits Committee.

  • With profits benefits are provided by PAC With- Profits Fund via a reinsurance treaty between PIA and PAC.

  • It is also their opinion that the exercise of discretion over the period was appropriate and that any issues involving competing or conflicting rights, interests and expectations of policyholders were resolved fairly.In coming to this view the Directors have taken account of internal and external professional advice provided during the year, including advice from the With Profits Actuary, the With Profits Committee and the Chief Actuary.

  • In this guide we explain how we manage the money invested in the Guardian Assurance With Profits Fund (GAWPF) and what it means for you.

  • Any compensation costs relating to business that was formerly part of the BULA With Profits Fund will be charged to the fund irrespective of where that business resides within Phoenix Life Limited.

  • The Principles and Practices given in sections 7.4 to 7.14 together with the Guiding Principles and Practices form the Principles and Practices of Financial Management for the 100% With- Profits Fund.

  • The amounts of assets set aside were determined by the Century Board before the Effective Date of the 2006 Scheme after taking advice from the Century With Profits Committee and the Century With Profits Actuary.

  • Similar contracts, but having only the With Profits Fund investment option, are available in Minor Sterling branches.


More Definitions of With Profits

With Profits means that regular bonuses are added to the Bond, increasing its overall value up to the date of maturity or earlier death.
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With Profits means that the contributions that were formerly paid by the members and the employers paid on their behalf, are pooled together with money from other pension funds that are invested in the same way and invested in Phoenix Life’s unitised with- profits fund. The contributions paid by you and on your behalf, and the profits generated from them, are used to buy units in Phoenix Life’s with-profits fund. At retirement, the money in your pension “pot” is available to purchase an annuity. A proportion of the benefit can usually be taken in a cash form at retirement. When you take your benefits, Phoenix Life guarantees that each £1,000 in your fund will guarantee to pay a certain amount of income for the rest of your life. The amount of income depends on whether you are male or female, your age at the time, whether your pension will continue at half- rate for one or more of your dependants, and whether or not it will increase during payment and, if so, by how much.The benefits provided by the Plan are what is known as defined contribution (“DC”). This means that the benefits provided are based wholly on the value of each individual member’s fund within the Plan and there is no cross-subsidy between members.The fund is managed by The Phoenix Life Assurance Limited Board, assisted by a with-profits committee, which puts the fund’s money into different types of investments, such as company shares, property, bonds (types of loan usually issued by the Government or companies), cash deposits and alternative investments, such as hedge funds. They select a wide range of assets to hold in the with-profits fund, in line with the fund's aims.Neither the Trustee nor the sponsoring employer has any influence over the way that the funds are invested.The costs of running the with-profits fund are deducted from the fund. What is left over (the profit) is available to be paid to the with-profits investors.The profits generated are paid in the form of annual bonuses added to your fund. There is no guarantee as to what level of profit will be paid in any year. The annual bonus rate that has been paid for the period between 1 March 2017 and 28 February 2019, and going forwards, is 1.5%.Phoenix Life usually tries to avoid big changes in the size of the annual bonuses from one year to the next. It does this by holding back some of the profits from good years to boost the profits in bad years, which is known as “smoothing”. There is also the possibility that a final bonus might be paid...
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Related to With Profits

  • Non-profit housing development means development of a building or structure intended for use as residential premises by,

  • Common profits means the balance of all income, rents, profits and revenues from the common areas and facilities remaining after the deduction of the common expenses;

  • Development Costs means costs incurred to obtain access to reserves and to provide facilities for extracting, treating, gathering and storing the oil and gas from reserves. More specifically, development costs, including applicable operating costs of support equipment and facilities and other costs of development activities, are costs incurred to:

  • Non-Profit means a qualified non-profit entity as defined in Section 42(h)(5)(C), subsection 501(c)(3) or 501(c)(4) of the IRC and organized under Chapter 617, F.S., if a Florida Corporation, or organized under similar state law if organized in a jurisdiction other than Florida, to provide housing and other services on a not-for-profit basis, which owns at least 51 percent of the ownership interest in the Development held by the general partner or managing member entity, which shall receive at least 25 percent of the Developer fee, and which entity is acceptable to federal and state agencies and financial institutions as a Sponsor for affordable housing, as further described in Rule 67-48.0075, F.A.C.

  • Net Operating Income With respect to any Mortgaged Property, for any Mortgagor’s fiscal year end, Net Operating Income will be calculated in accordance with the standard definition of “Net Operating Income” approved from time to time endorsed and put forth by CREFC®.

  • FTE means full-time equated.

  • Gross Operating Revenues means, for any period of time for any Hotel Property, without duplication, all income and proceeds of sales of every kind (whether in cash or on credit and computed on an accrual basis) received by the owner (or, if such Hotel Property is ground leased, the ground lessee) of such Hotel Property or the applicable Operating Lessee or Manager for the use, occupancy or enjoyment of such Hotel Property or the sale of any goods, services or other items sold on or provided from such Hotel Property in the ordinary course of operation of such Hotel Property, including, without limitation, all income received from tenants, transient guests, lessees, licensees and concessionaires and other services to guests at such Hotel Property, and the proceeds from business interruption insurance, but excluding the following: (i) any excise, sales or use taxes or similar governmental charges collected directly from patrons or guests, or as a part of the sales price of any goods, services or displays, such as gross receipts, admission, cabaret or similar or equivalent taxes; (ii) receipts from condemnation awards or sales in lieu of or under threat of condemnation; (iii) proceeds of insurance (other than business interruption insurance); (iv) other allowances and deductions as provided by the Uniform System in determining the sum contemplated by this definition, by whatever name, it may be called; (v) proceeds of sales, whether dispositions of capital assets, FF&E or equipment (other than sales of Inventory in the ordinary course of business); (vi) gross receipts received by tenants, lessees (other than Operating Lessees), licensees or concessionaires of the owner (or, if such Hotel Property is ground leased, the ground lessee) of such Hotel Property; (vii) consideration received at such Hotel Property for hotel accommodations, goods and services to be provided at other hotels although arranged by, for or on behalf of, and paid over to, the applicable Manager; (viii) tips, service charges and gratuities collected for the benefit of employees; (ix) proceeds of any financing; (x) working capital provided by the Parent Guarantor or any Subsidiary of the Parent Guarantor or the applicable Operating Lessee; (xi) amounts collected from guests or patrons of such Hotel Property on behalf of tenants of such Hotel Property and other third parties; (xii) the value of any goods or services in excess of actual amounts paid (in cash or services) provided by the applicable Manager on a complimentary or discounted basis; and (xiii) other income or proceeds resulting other than from the use or occupancy of such Hotel Property, or any part thereof, or other than from the sale of goods, services or other items sold on or provided from such Hotel Property in the ordinary course of business. Gross Operating Revenues shall be reduced by credits or refunds to guests at such Hotel Property.

  • Working Interest means an interest in oil and/or gas in the unit area by virtue of a lease, operating agreement, fee title, or otherwise, including a carried interest, the owner of which is obligated to pay, either in cash or out of production or otherwise a portion of the unit expense.

  • Medical Expense means an expense incurred at the time a past member or his or her health reimbursement account dependent is furnished the medical care or service. To be considered a medical expense under this act, the expense shall meet all of the following conditions:

  • medium term expenditure framework ’ means a budgeting framework applied by the National Treasury which—

  • Non-profit organization means: (1) a governmental entity of the state of California; or (2) a legal entity that is tax exempt under Internal Revenue Code section 501(c)(3) and California Revenue and Taxation Code section 23701d.

  • Non-profit making companies means companies set up under the Companies Act, 1956/Companies Act 2013.

  • Independent expenditure means an expenditure by a person:

  • Development Cost means the total of all costs incurred in the completion of a Development excluding Developer Fee, operating deficit reserves, and total land cost as typically shown in the Development Cost line item on the development cost pro forma.

  • Revenues means the Tax Revenues (including Alternative Revenues paid or payable to the Authority), the Building Aid and all aid, rents, fees, charges, payments and other income and receipts (other than Note or Bond proceeds) paid or payable to the Authority or the Trustee for the account of the Authority.

  • Revenue means the price for iron ore from the mineral lease the subject of any shipment or sale and payable by the purchaser thereof to the Company or an associated company less all export duties and export taxes payable to the Commonwealth on the export of the iron ore and all costs and charges properly incurred and payable by the Company from the time the ore shall be placed on ship at the Company’s wharf to the time the same is delivered and accepted by the purchaser including —