Glossary entry (derived from question below)
Danish term or phrase:
fripoliceydelse
English translation:
paid-up policy benefit
Added to glossary by
Kyle Hammons
Jul 14, 2013 14:17
10 yrs ago
Danish term
United States
Reliable, quick and accurate translation
Native in: English (Variant: US) 
Works in: Czech to English, Danish to English, French to English, and 2 more.
fripoliceydelse
Danish to English
Bus/Financial
Insurance
Does anyone have a good translation for fripoliceydelse? Or at least a good definition? It is used in a life insurance / pension company's annual report, a typical example is:
Hvis der i et år opstår underskud i en kontributionsgruppe, og gruppen ikke kan finansiere dette via kollektivt bonuspotentiale, eller for rentegruppernes vedkommende ved at anvende bonuspotentiale på fripoliceydelse, så må basiskapitalen finansiere underskuddet.
Thanks in advance!
Hvis der i et år opstår underskud i en kontributionsgruppe, og gruppen ikke kan finansiere dette via kollektivt bonuspotentiale, eller for rentegruppernes vedkommende ved at anvende bonuspotentiale på fripoliceydelse, så må basiskapitalen finansiere underskuddet.
Thanks in advance!
Proposed translations
(English)
| 4 | paid-up policy benefit |
Adrian MM. (X)
|
Proposed translations
3 hrs
Selected
paid-up policy benefit
Maybe a coincidence that friholdt vaerdi has been recently asked and IMO is strongly related.
Fripolice: free or paid-up policy (Bailey's DK>EN Handels- og Fagordbog).
Example 1: X's employers (misguidedly) switch company pension scheme after 10 years with AB to Equitable Life. Company pension AB and any linked life assurance become paid up. Any benefit, albeit short of the amount that would have been payable on X's full retirement, can be paid out without any discount pre-retirement.
Example 2: X changes address outside of the UK for a personal pension AB taken out after becoming freelance and valid only for UK residents. Co. AB stops the personal pension and make it a paid-up plan. Any benefit payable before retirement age is subject to a penalty deduction. X will need to wait to 65 for the full paid-up policy benefit.
Fripolice: free or paid-up policy (Bailey's DK>EN Handels- og Fagordbog).
Example 1: X's employers (misguidedly) switch company pension scheme after 10 years with AB to Equitable Life. Company pension AB and any linked life assurance become paid up. Any benefit, albeit short of the amount that would have been payable on X's full retirement, can be paid out without any discount pre-retirement.
Example 2: X changes address outside of the UK for a personal pension AB taken out after becoming freelance and valid only for UK residents. Co. AB stops the personal pension and make it a paid-up plan. Any benefit payable before retirement age is subject to a penalty deduction. X will need to wait to 65 for the full paid-up policy benefit.
Example sentence:
Ydelse opsparet til dato for dødsfaldsummen (fripoliceydelse) - Grundform 115 ... Ydelsen opsparet til dato for den opsatte livrente (fripoliceydelse) www.math.ku.dk/~mogens/Bachelorprojekt-Liv.doc
4 KudoZ points awarded for this answer.
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