CONTRIBUTION PLAN
\kˌɒntɹɪbjˈuːʃən plˈan], \kˌɒntɹɪbjˈuːʃən plˈan], \k_ˌɒ_n_t_ɹ_ɪ_b_j_ˈuː_ʃ_ə_n p_l_ˈa_n]\
Definitions of CONTRIBUTION PLAN
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A plan of distributing surplus by giving to each policy the excess of premiums and interest earned thereon over the expenses of management, cost of insurance, and the policy value at the date of computation. This excess is called the contribution of the policy.
By Oddity Software
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A plan of distributing surplus by giving to each policy the excess of premiums and interest earned thereon over the expenses of management, cost of insurance, and the policy value at the date of computation. This excess is called the contribution of the policy.
By Noah Webster.
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