Looking for the meaning of a particular word? Click on a letter to obtain the list of corresponding words.

Optional Guarantees
Means the options offered to the Contract Owner under the Desjardins Financial Security Guaranteed Investment Funds Plan. Please refer to the section titled “Optional Guarantees” of the Contract and Information Folder (link to PDF) for further information.

Owner
Means a person whose name appears as “Applicant” or “Co-Applicant” in the “Owner” section of the Contract Application, which has been accepted by the Company and is a party to a Desjardins Financial Security Guaranteed Investment Funds Plan– Helios Contract.

P

Paid-up Policy
A policy on which premiums are no longer payable, but for which the full amount of benefits will be paid upon maturity.

Participant
An employee or a unionized employee who belongs to a private pension plan set up by his or her employer or union.

Participating Fund
The equity of policyholders who hold a participating insurance policy.

Participating Policy
A policy under which the policyholder is eligible to receive a share of the company's profits.

Participating Policyholders' Equity
The equity of owners of participating insurance policies that is kept in the insurance company's dividend fund.

Particulars
Conditions mainly dealing with the specifics of the coverage provided by the insurance and the premium that goes with it as well as the effective date and maturity date of a policy. The particulars serve to personalize a contract.
Synonym: Schedule.

Pension plan
A plan under which members are paid retirement benefits under certain terms starting at a given age. Such plans are usually financed with contributions paid either by the employer alone or by both the employer and the member.

Plan Sponsor
A company, organization, or other body that takes out a pension plan with an insurer. In many cases, plan sponsors are employers, associations, or unions.

Policy
A written document constituting the evidence of an insurance contract and outlining the terms and conditions thereof.

Policy Dividend Clause
A clause giving holders of participating insurance policy contracts the right to a share of the insurance company's surplus earnings. Policy dividend payments can take various forms, including a reduction in premiums payable, cash payment, an increase in coverage, a paid-up insurance policy, or an interest-bearing deposit in the policyowners's account.

Policyholder Dividend
The portion of an insurance company's surplus from its participating business that is paid to its participating policyholders.

Policyowner
An individual or corporate body that takes out an insurance policy. Also known as the policyholder in individual insurance. In group insurance, the policyowner is the organization that takes out a pension plan or insurance policy, in many cases an employer, association, or labor union.

Portability
The possibility of transferring a member's credits or value thereof from one pension plan to another or to a retirement savings instrument.

Premium
The payment that the policyowner is required to make to maintain the insurance contract in force. This payment represents the cost of the insurance policy and may sometimes include a savings portion. The amount of the premium is directly proportional to the risk the insurer is underwriting.

Premium by Installments
Insurance premiums paid in two, four, or twelve payments depending on the frequency chosen. Premiums can be paid weekly, monthly, or quarterly.

Proof
The provision of evidence in support of a contention.

Proof of Claim
Evidence of the loss suffered. More specific terms like proof of death, proof of disability, etc. may be used depending on the situation.

Prospectus
A legal document describing the securities being issued to the public. It is drawn up in accordance with the rules of the competent securities commission.

Q

Quebec Pension Plan
In the Canadian province of Quebec, a provincial program that provides a pension for wage earners who reside in Quebec and who have contributed money into the plan during their working years.