Participating policy

{
  "id": "MLC-T-INS-002497",
  "term": "Participating policy",
  "field": "Insurance and risk management",
  "definition": "A type of life insurance policy that allows the policyholder to receive dividends from the insurer's surplus earnings. These dividends are not guaranteed but are declared annually by the insurer's board of directors. Policyholders can typically choose to receive dividends in cash, apply them to reduce premiums, purchase paid-up additions, or leave them with the insurer to accumulate interest.",
  "url": "https://mlchart.com/terminology/insurance/participating-policy/"
}