This is insurance that you pay each year for insurance in that year and it does not build a cash value.

为了这种保险可以持续生效,你每年都要缴纳保费,保费不产生现金价值

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If they're sending out money, the value of the company has to go down by whatever they sent out.

如果他们发放现金的话,公司的价值将降低相同数量,不管是以什么方式

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Whole life" is more complicated because it builds a cash value according to a schedule and there is both non-participating and participating.

终身人寿保险则更为复杂,因为它会按照购买计划产生现金价值,其中又分为非参与式分红保险和,参与式分红保险两种

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It turns out that if you make them forfeit their cash value on canceling, then they won't cancel.

但是如果你规定保单的现金价值,会随保单的取消而消失,他们就不会这么干了

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What he invented was an insurance policy that had a cash value and that's another-- it's a cash value on the insurance policy.

他创造了一种保单,这种保单具有现金价值,指带有储蓄性质的保单所具有的价值

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So, they are selling widgets or whatever and making money-- the value of the company is the present value of that cash flow.

不管通过什么方式赚钱,即便卖小商品...,公司的价值等于现金流的现值

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With non-participating--with participating, you are participating in the portfolio outcome that the insurance company is experiencing, so you have some uncertainty about your cash value.

所谓参与式分红保险,是指你的收益来自某个投资组合收益,而这个投资组合是由保险公司来管理的,所以保单的现金价值是不确定的

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Both of these were ideas that were copied all over the world-- that's the way inventions are-- so a lot of insurance policies today have cash values.

以上两个点子后来在全世界被广泛使用,这就是创新,所以现在的很多保单都是有现金价值的

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