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					Word(s) :   PA - Per Annum - Another term for per year. Package account - A bank account that charges you a monthly fee whether you are in the red or not. Paid up insurance - Insurance on which all required premiums have been paid. Partial disability - A disability that is less than total (according to the particular definition relating to the contract in question) but still sufficient to hamper you in your job. PAYE - Pay As You Earn - a system whereby income tax is automatically deducted from wages and salaries by employers on behalf of the Inland Revenue before employees are paid. Payment holiday - A feature offered by some mortgages that allow you to miss monthly payments on your mortgage. Payment protection - A type of insurance to cover your monthly repayments on a credit card or loan should you lose your job or be too ill to work. Pay out period - How long an insurance policy continues to pay out for. Pension (more) - A regular payment made to a person of a certain age. Payments may be made by the state, previous employers or by provision of a private fund set up by the person in question. Pensions credit (more) - To be introduced in October 2003, this replaces the Minimum Income guarantee. This will provide a minimum guaranteed level of income, but also rewards people with modest sums set aside for retirement and private pensions. Pension transfer (more) - If you want to transfer your pension from one management company to another, or from one employer to another. Pensionable age (more) - The age at which you become entitled to the government Basic State Pension. Pensionable Service - The length of time you worked for an employer that is used in calculating pension benefits from a pension scheme. Pensioner - A person who has retired and receives an income from a pension scheme. PEP (Personal Equity Plan) - a tax free method of acquiring unit trusts or shares. Withdrawn from sale in April 1999. Per Annum - Another term for per year. Per Capita - Per person. Permanent total disability - Disability from which you are unlikely to recover at any time in the future. Permanent Health Insurance - Provides an income, until retirement if necessary, if you can't work because of sickness or disability. Personal Contract Plan - A type of car loan where you effectively hire a car from the lender; usually you pay a deposit, and pay regular payments to the lender. Personal Loan - A loan which you take out as an individual, with a fixed interest rate and a fixed number of repayments. Personal Pensions - These are pensions for individuals. These preceded stakeholder pensions as a way for individuals to invest for their own retirement if they did not have any company pension scheme, or were self employed. These are still available. PLC - Public Limited Company - A company that has shares available for the public to buy. Pet Insurance - A type of insurance that helps pay vets' bills and other pet related costs. Policy - The full details and terms of an insurance contract. Policy Term - The length of time that an insurance policy lasts. Policy holder - A person or organisation that takes out an insurance policy. Pre-Existing Medical Conditions - Medical conditions that exist at the time you take out an insurance policy, or for which you have received treatment within a specified time. Premium - The amount you pay for insurance cover. Private medical insurance - a policy that covers the policyholder for any bills arising from medical or hospital treatment. Probate - The process by which the will of someone who dies while living in England or Wales is validated. Pro rata premium - A rate charged for a period of insurance cover shorter than the normal period. Public company - a company that is listed on the Stock Exchange. The company's shares are available for the public to invest in. Purchase protection - A service offered by some credit-card companies that insures you against theft or accidental damage to the item you purchased, often for up to 90 days after purchase.