KudoZ home » German to English » Insurance

Überschuß-Sofortverrechnung

English translation: profit bonus applied directly against the premium

Advertisement

Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs
(or are passionate about them). Participation is free and the site has a strict confidentiality policy.
GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Überschuß-Sofortverrechnung
English translation:profit bonus applied directly against the premium
Entered by: David Wallace
Options:
- Contribute to this entry
- Include in personal glossary

05:11 Nov 2, 2006
German to English translations [PRO]
Bus/Financial - Insurance
German term or phrase: Überschuß-Sofortverrechnung
Description of insurance policy terms

Durch die Überschuß-Sofortverrechnung verringert sich der Beitrag. Der tatsächlich zu entrichtende Inkassobeitrag ergibt sich aus der Überschußmitteilung.

The premium will be reduced if (profit-sharing) dividends are applied directly to paying the premium???

Another example:
EUR 39,58 mtl. "netto" = unter Sofortverrechnung der Überschüsse.
David Wallace
United States
Local time: 16:49
Something like:
Explanation:
"The premium is reduced by offsetting the policy holder's profit bonus against the premium. (The net amount to be paid is listed in the profit bonus statement/notification)."


From http://www.amb.de/internet/amb/amb_inter.nsf/ContentByKey/BP...

"Den Versicherungsnehmern wurden insgesamt 74,12 Mio. EUR (Vj. 67,23 Mio. EUR) als Sofortüberschuss zur Beitragsverrechnung und als Direktgutschrift zur Erhöhung der Überschussanteilguthaben gutgeschrieben."

Policyholders were credited a total profit bonus of EUR 74.12 m (2004: 67.23 m) either directly set off against premiums or used to increase the policyholders' accumulated profit bonus."

It's also what I do with my BUZ (occupational disability insurance). The listed gross premium is far higher than the net premium I actually pay because my share of the insurer's profits (which may be adjusted from year to year) is offset against the gross premium.
Selected response from:

TonyTK
Grading comment
Thanks for the confirmation!
4 KudoZ points were awarded for this answer

Advertisement


Summary of answers provided
4Something like:TonyTK


  

Answers


7 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
Something like:


Explanation:
"The premium is reduced by offsetting the policy holder's profit bonus against the premium. (The net amount to be paid is listed in the profit bonus statement/notification)."


From http://www.amb.de/internet/amb/amb_inter.nsf/ContentByKey/BP...

"Den Versicherungsnehmern wurden insgesamt 74,12 Mio. EUR (Vj. 67,23 Mio. EUR) als Sofortüberschuss zur Beitragsverrechnung und als Direktgutschrift zur Erhöhung der Überschussanteilguthaben gutgeschrieben."

Policyholders were credited a total profit bonus of EUR 74.12 m (2004: 67.23 m) either directly set off against premiums or used to increase the policyholders' accumulated profit bonus."

It's also what I do with my BUZ (occupational disability insurance). The listed gross premium is far higher than the net premium I actually pay because my share of the insurer's profits (which may be adjusted from year to year) is offset against the gross premium.

TonyTK
Native speaker of: Native in EnglishEnglish
PRO pts in category: 47
Grading comment
Thanks for the confirmation!
Login to enter a peer comment (or grade)




Return to KudoZ list


KudoZ™ translation help
The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.



See also:



Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search