Abstract
This chapter describes the capital redemption policies and the annual premium. Capital redemption policies, sometimes known as sinking fund assurances, sometimes as leasehold redemption policies, provide a fixed sum assured at a fixed future time in return for fixed premiums in the meantime. It may be thought from this definition that they are rather rigid contracts and so they are. There is no provision for variation of the policy's terms in the event of death, although it is usually possible to vary the premiums or the term if desired. It is found that if nothing specific is stated about the premiums, it can be assumed that they are payable yearly in advance throughout the term of the policy and that they do not vary from year to year. It is found that there is no law that says premiums paid otherwise are verboten, but the point is that if there is any deviation from these conditions, the policy ceases to be standard, and thereupon becomes a special one.
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