With Profits - (Of life insurance policies) Entitled to a share of the insurance company"s profit. Each year a bonus is added to the guaranteed sum insured to reflect the company"s profit. Usual practice is to "smooth" such bonuses so that a comparatively unsuccessful year will not necessarily lead to a lower bonus but a succession of poor years will be reflected by a gradual reduction of bonus rate (and conversely for a series of successful years).
With Profits : (of life insurance policies) entitled to a share of the insurance company"s profit. each year a bonus is added to the guaranteed sum insured to reflect the company"s profit. usual practice is to "smooth" such bonuses so that a comparatively unsuccessful year will not necessarily lead to a lower bonus but a succession of poor years will be reflected by a gradual reduction of bonus rate (and conversely for a series of successful years).
With Profits