Glossary entry (derived from question below)
English term or phrase:
on day one
English answer:
in the beginning; at first; at the onset
Added to glossary by
John Alphonse (X)
May 29, 2008 17:26
15 yrs ago
4 viewers *
English term
Italy
Your financial translation expert
Native in: Italian 
Works in: English to Italian, French to Italian, Italian
on day one
English
Bus/Financial
Insurance
Hi, can you please help me make sense of the following sentence?
"It is important to note that Traded Life Policies are not without risk because whilst we know how much money we are going to make **on day one**, we do not know exactly when each policy will mature and we do not know how many premiums will need to be paid before the policy pays out".
Should this be interpreted as "we know on day one how much money we are going to make in the future", or "on day one we are going to make a certain amount of money, and we know that"?
Thank you very much in advance :-)
"It is important to note that Traded Life Policies are not without risk because whilst we know how much money we are going to make **on day one**, we do not know exactly when each policy will mature and we do not know how many premiums will need to be paid before the policy pays out".
Should this be interpreted as "we know on day one how much money we are going to make in the future", or "on day one we are going to make a certain amount of money, and we know that"?
Thank you very much in advance :-)
Responses
| 5 +2 | in the beginning |
John Alphonse (X)
|
| 5 | we know on day one how much money we are going to make in the futur |
Marian Greenfield
|
Change log
Jun 3, 2008 08:19: John Alphonse (X) Created KOG entry
Responses
+2
1 hr
Selected
in the beginning
This is saying that the company knows how much profit is making when it sells the policy but has no idea what payout future claims may entail, and therefore this initial profit is not secure because they have no way of knowing the cost of potential future claims.
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Note added at 1 hr (2008-05-29 18:52:09 GMT)
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Yes, it still applies, Adele, because the company knows its profit margin if they were to re-sell at the moment of purchase, but sort of like the stock market concept, things may change and their future margin may differ. If they are going to be making money, there must be an option to profit from making a sale, either immediately or in the future.
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Note added at 1 hr (2008-05-29 19:10:31 GMT)
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Also, "on day one" definitely means "on or at the beginning" so no matter the details this still means "on or at the beginning"...
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Note added at 1 hr (2008-05-29 18:52:09 GMT)
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Yes, it still applies, Adele, because the company knows its profit margin if they were to re-sell at the moment of purchase, but sort of like the stock market concept, things may change and their future margin may differ. If they are going to be making money, there must be an option to profit from making a sale, either immediately or in the future.
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Note added at 1 hr (2008-05-29 19:10:31 GMT)
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Also, "on day one" definitely means "on or at the beginning" so no matter the details this still means "on or at the beginning"...
Note from asker:
| Thank you John. Actually, this specific company _buys_ policies, does not sell them (it is a mutual fund specializing in Traded Life Policies). Would your explanation still apply in this case? |
| Thank you both for your help :-) Adele |
| Thank you both for you help :-) |
4 KudoZ points awarded for this answer.
Comment: "I'm sorry, I used the wrong form TWICE! :-( Thank you both for your help,
Adele"
2 mins
Marian Greenfield
Native in English
&
English
Over 30 years in financial translation
Native in: English
Works in: Spanish to English, Portuguese to English, English
we know on day one how much money we are going to make in the futur
the idea is you know the proceeds of the policy, but not the maturity or the cost... since you don't know how long you'll be paying premiums.
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Note added at 12 mins (2008-05-29 17:38:45 GMT)
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the premiums are paid by whoever takes out the policy (the owner)... depending on the circumstances, that may or may not be the insured... (for life insurance policies... there is quite a bit of regulation as to owners of policies... for obvious reasons...)
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Note added at 12 mins (2008-05-29 17:38:45 GMT)
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the premiums are paid by whoever takes out the policy (the owner)... depending on the circumstances, that may or may not be the insured... (for life insurance policies... there is quite a bit of regulation as to owners of policies... for obvious reasons...)
Note from asker:
| Yes, that makes sense. The proceeds are the difference between the purchase price and the value at maturity. My only remaining doubt concerns premiums. Aren't these usually paid by the insured to the insurer? |
| thanks again :-) |
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