Glossary entry

French term or phrase:

rachat

English translation:

surrender (life insurance)

Added to glossary by Francesca Siotto
Feb 21, 2004 14:05
21 yrs ago
46 viewers *
French term

rachat

French to English Bus/Financial Finance (general) assurance
En cas de demande de rachat ou de dénouement par décès j’accepte et également pour compte des bénéficiaires qu’un délai supérieur à 1 an pourra s’écouler avant le paiement des prestations, qui pourra le cas échéant se faire sous forme de remise des titres. En effet je suis particulièrement conscient en ce qui concerne le Fond que les actions de class B ne font l’objet que d’un rachat annuel

Si le Fonds devait dans le cadre de la demande de rachat transférer des valeurs mobilières qui ne seraient pas considérées comme actifs admissibles par le droit des assurances luxembourgeois, je m’engage à demander un rachat partiel de mon contrat ; le paiement de la prestation se faisant par transfert desdites valeurs mobilières.

I'm not sure about the translation of rachat in this context.
Any help would be very appreciated.

Thanks!

Proposed translations

+4
9 mins
Selected

surrender of (contract of) insurance; part buy-out of contract; redemption of stocks and & shares

I see the problem. I tend to redemption or buy-back application for demande de rachat - but surrender application if definitely refers to ins. contract etc.

Suggested guidelines:
Redemption of co. shares, bonds, debentures and mortgages.
Also repurchase and buy-back of co. shares.
Repayment of a loan.
Surrender of an ins. policy and buy-out of a lease. Surrender of a lease means giving it up.

'... which may be available to you include reduced paid-up insurance, extended term insurance or a premium loan. If you choose to surrender your policy, the policy ...'
Peer comment(s):

agree Claire Chapman : redemption
5 hrs
agree antobasile
22 hrs
agree Yves Johnson
1 day 2 hrs
agree dreamworld (X) : Surrender is the correct term in life insurance: a policyholder who surrenders a life insurance policy for its cash value pays a surrender fee. Redemption is not correct: it is used for fund units, not life insurance policies.
1 day 20 hrs
Something went wrong...
3 KudoZ points awarded for this answer. Comment: "thanks"
+2
6 mins

repurchase

in this context I would use this term
Peer comment(s):

agree Scott Horne (X)
3 hrs
thanks Scott
agree zaphod
7 hrs
thanks Zaphod
Something went wrong...
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