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Good answer!
Sir
I think this term is used in life insurance long term endowment plans. There are pure risk plans where the LIFE COVERAGE is highest but you do not participate in the profits made by the LIFE FUND of the Life insurance Co.
And there are other plans where primium per thousnd of life assured is hiher but you particpate in the profits.
As a normal person I do not want to die. But if that eventuality does happen i want my dependents protected. And If I survive I want a return on the sum invested. Here a participating policy would be useful.
Working as a marketing executive for life insurance corporation of India I can say selling a participating with profir policy is easier to a normal middle class salaried person.
A without profit non participating policy is for the hard nosed bussinessman who wants the cheapest life cover.
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