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.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

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.

With Profits means that regular bonuses are added to the Bond, increasing its overall value up to the date of maturity or earlier death.

Examples of With Profits in a sentence

The With Profits Committee may discuss the application of the Scheme or the reasonable expectations of the holders of policies allocated to the FL FLC Old With Profits Fund with the PRA and the FCA or any other regulatory body, but only after first discussing the matter with the FLL Board and the FLL With Profits Actuary and having given the directors such prior notice of its intention to do so as is reasonably practicable.
The amount of the FL FP Post Demutualisation With Profits Support Account shall be equal to £25 million as at the 2012 Scheme Effective Date.
Any such report will set out the reasons for the conclusions reached by the FLL With Profits Actuary (i) on whether Assets should be transferred from the FL WL WPF Support Account to the FL WL With Profits Fund and (ii) if appropriate, on the value of the Assets which should be transferred.
FLL shall provide, or procure the provision of, administrative and secretarial support to the With Profits Committee reasonably necessary to enable it to properly carry out its functions under this Schedule.
For individual business the PPB Amount at any date (the "Relevant Date") for in force With Profits Policies shall be calculated using discounted cashflow projections performed on the basis set out in paragraph 3.2 of this Part.
The Specified Year End Support Amount in respect of the FL FP Post Demutualisation With Profits Support Account shall be equal to £25 million or such other amount as determined by the FLL Board from time to time, having taken account of appropriate actuarial advice, and taking into account the total liabilities outstanding in relation to FL FP Post Demutualisation Policies at the relevant time.
The PPB Amount (being the provision for policyholder benefits) in respect of With Profits Policies represents an amount that is intended to be sufficient to meet the expected benefits for those With Profits Policies, together with all associated costs, and is determined in accordance with this Schedule.
The FLL Board, having taken account of appropriate actuarial advice, shall calculate at least once in every period of 12 months (a "PPB Calculation Date") the PPB Amount in accordance with the terms of this Schedule in respect of With Profits Policies allocated at that time to each of the FL FLC Funds.
In the event that a Permanent Contribution is made from the FL WL WPF Support Account to the FL WL With Profits Fund in accordance with paragraph 2, the FL WL WPF Support Account Value shall be reduced (and the table at paragraph 3 above shall be deemed to be amended accordingly) by the full amount of such Permanent Contribution in respect of each Year End following the date on which such a Permanent Contribution is made, provided that the FL WL WPF Support Account shall not be reduced below zero.
The FLL Board and the With Profits Committee shall notify the PRA and the FCA in advance and as soon as is practicable of any proposal from the With Profits Committee to discuss a matter with the PRA and the FCA or any other regulatory body which falls under this paragraph 3.

More Definitions of With Profits

With Profits means an investment product of an insurance company described in further detail in the section headed "Investment Objective and Strategy" below.

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.

Related to With Profits

Operating Profits means, as applied to any Person for any period, the operating income of such Person for such period, as determined in accordance with GAAP.
Operating Profit means the excess of Gross Revenues over the following deductions (“Deductions”) incurred by Manager, on behalf of Owner, in operating the Hotel:
Gross Operating Profit For any Fiscal Year, the excess of Gross Revenues for such Fiscal Year over Gross Operating Expenses for such Fiscal Year.
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;