A policyholder with this type of life insurance policy shares in the surpluses of the insurance company's life insurance and pensions business.

an insurance contract that participates in the profit s of a life insurance company

A life assurance policy under which a share of the surplus disclosed by actuarial valuations of the company's business is payable as an addition to the guaranteed benefits or in reduction of future premiums.

A policy in which the policyholder has the right to amounts above the basic sum assured or death benefit, principally as the result of profits made on the investment of a fund.

A with-profits policy (Commonwealth) or participating policy (USA) is an insurance contract that participates in the profits of a life insurance company. The company is usually a mutual life insurance company, or had been one when it began its with-profits product line.