- unit-linked policy
- A life assurance policy in which the benefits depend on the performance of a portfolio of shares. Each premium paid by the insured person is split: one part is used to provide life-assurance cover, while the balance (after the deduction of costs, expenses, etc. ) is used to buy units in a unit trust In this way a small investor can benefit from investment in a managed fund without making a large financial commitment. As they are linked to the value of shares, unit-linked policies can go up or down in value. Policyholders can surrender the policy at any time and the surrender value is the selling price of the units purchased by the date of cancellation (less expenses). Recent decades have also seen a widespread increase in unit-linked savings plans, both with and without life-assurance cover.
Big dictionary of business and management. 2014.
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unit-linked — ˈunit ˌlinked adjective unit linked policy/plan/insurance INSURANCE a life insurance policy, pension plan etc in which all or part of the premium S (= regular payments) are invested in an investment fund * * * unit linked UK US … Financial and business terms
Unit Linked Insurance Plan - ULIP — A type of insurance vehicle in which the policyholder purchases units at their net asset values and also makes contributions toward another investment vehicle. Unit linked insurance plans allow for the coverage of an insurance policy, and provide … Investment dictionary
Unit Linked Insurance Plan — For the school ULIP, see University of London Institute in Paris Unit Linked Insurance Plan (ULIP) provides for life insurance where the policy value at any time varies according to the value of the underlying assets at the time. ULIP is life… … Wikipedia
unit-linked — uˈnit linked adjective (of a life insurance policy or personal equity plan) having a return based on the value of a unit trust • • • Main Entry: ↑unit … Useful english dictionary
unit-linked insurance — /ˌju:nɪt lɪŋkd ɪn ʃυərəns/ noun an insurance policy which is linked to the security of units in a unit trust or fund … Dictionary of banking and finance
equity-linked policy — An insurance or assurance policy in which a proportion of the premiums paid are invested in equities. The surrender value of the policy is therefore the selling price of the equities purchased; as more premiums are paid the portfolio gets larger … Big dictionary of business and management
Endowment policy — An endowment policy is a life insurance contract designed to pay a lump sum after a specified term (on its maturity ) or on earlier death. Typical maturities are ten, fifteen or twenty years up to a certain age limit. Some policies also pay out… … Wikipedia
paid-up policy — An endowment assurance policy in which the assured has decided to stop paying premiums before the end of the policy term. This results in a surrender value, which instead of being returned in cash to the assured is used to purchase a single… … Big dictionary of business and management
whole life policy — whole of life policy A life assurance policy that pays a specified amount on the death of the life assured. Benefits are not made for any other reason and the cover continues until the death of the life assured, provided the premiums continue to… … Big dictionary of business and management
with-profits policy — A life assurance policy that has additional amounts added to the sum assured, or paid separately as cash bonuses, as a result of a surplus or profit made on the investment of the fund or funds of the life assurance office. Compare unit linked… … Big dictionary of business and management