Interim risk contribution
Interim risk contribution (partial deferral) is a term from the life insurance sector . With a classic mixed life insurance (death and survival) there is the option of initially paying a contribution reduced by the savings portion (usually 60 to 70 percent of the gross premium) for 12 months.
An extension of another 12 months is generally possible. During this time, the savings process is suspended, while biometric risks such as occupational disability pension or survivors' benefits remain due to the risk contribution (s) to be paid (interim risk contribution). The savings contributions that have not been paid are later allocated to the remaining contribution period and thus increase the subsequent contributions accordingly or the sum insured is reduced.