A policy that does not participate in the distribution of dividends.
A life insurance policy in which the company does not distribute to policy holders any part of its surplus. Note should be taken that premiums for nonparticipating polices are usually lower than for comparable participating polices. Note that some nonparticipating polices have both a maximum premium and a current lower premium. The current premium reflects anticipated experience that is more favorable than the company is willing to guarantee, and it may be changed from time to time for the entire block of business to which the policy belongs.
A type of insurance policy or annuity for which the policyholder does not receive dividends.
This is a policy that does not earn dividends and is usually considered an investment vehicle.
Non-participating policy is also known as a without-profit or non-par policy. The policy owner does not share in any divisible surplus made by the life insurance company. No bonus is paid on this policy.
A life insurance policy in which the company does not distribute to policyholders any part of its surplus. Note that premiums for non-participating policies are usually lower than for comparable participating policies. Note also that some non-participating policies have both a maximum premium and a current lower premium. The current premium reflects anticipated experience that is more favorable than the company is willing to guarantee, and it may be changed from time to time for the entire block of business to which the policy belongs.
One under which the insured is not entitled to dividends or other refunds.