248 ADDITIONAL INFORMATION Deferred tax liabilities  are amounts of income taxes payable  in future periods in respect of taxable temporary differences. Defined benefit obligation  is the present value, without  deducting any plan assets, of expected future payments  required to settle the obligation resulting from employee  service in the current and prior periods. Defined benefit plans  are post-employment benefit plans other  than defined contribution plans. Defined contribution plans  are post-employment benefit plans  under which an entity pays fixed contributions into a separate  entity (a fund) and will have no legal or constructive obligation  to pay further contributions if the fund does not hold sufficient  assets to pay all employee benefits relating to employee service  in the current and prior periods. Deferred policy acquisition cost (DPAC)  are the variable  costs related to the acquisition or renewal of insurance  contracts and investment contracts with discretionary  participation features. Deposit accounting method  includes amounts charged and  paid to customers directly into the financial liability and not  through the income statement as premium income and claims.  Derecognition  is the removal of a previously recognized asset  or financial liability from an entity’s balance sheet. Derivatives  are financial instruments whose value changes in  response to an underlying variable, that require little or no net  initial investment and are settled at a future date.  Discretionary participation feature  is a contractual right  to receive, as a supplement to guaranteed benefits, additional  benefits: Financial asset  is any asset that is: Finance lease  is a lease that transfers substantially all the risks  and rewards incident to ownership of an asset. Exchange differences  are differences resulting from translating  a given number of units of one currency into another currency  at different exchange rates. Equity volatility  is the relative rate at which the price of equity  changes. Equity method  is a method of accounting whereby the  investment is initially recognized at cost and adjusted thereafter  for the post-acquisition change in the investor’s share of net  assets of the investee. The profit or loss of the investor includes  the investor’s share of the profit or loss of the investee. Equity instruments  are financial instruments issued by the  Group that are classified as equity if they evidence a residual  interest in the assets of the Group after deducting all of its  liabilities.  Embedded derivative  is a component of a hybrid instrument  that also includes a non-derivative host contract, with the effect  that some of the cash flows of the combined instrument vary in  a way similar to a derivative.  Effective interest rate method  is a method of calculating the  amortized cost of a financial asset or liability and of allocating  the interest income or expense over the relevant period.  The effective interest rate is the rate that exactly discounts  estimated future cash payments or receipts through the  expected life of the financial instrument or, when appropriate,  a shorter period to the net carrying amount of the financial  asset or liability.  ■ That are likely to be a significant portion of the total  contractual benefi ts; ■ Whose amount or timing is contractually at the discretion  of the issuer; and ■ That are contractually based on: • The performance of a specified pool of contracts  or a specified type of contract; • Realized and/or unrealized investment returns  on a specified pool of assets held by the issuer; or • The profit or loss of the company, fund or other entity  that issues the contract. ■ Cash;  ■ An equity instrument of another entity; ■ A contractual right to receive cash or another fi nancial asset  from another entity or to exchange fi nancial instruments  with another party under conditions that are potentially  favorable; or ■ A contract that will or may be settled in the entity’s own  equity instruments; and is  • A non-derivative for which the entity is or may be obliged  to receive a variable number of the entity’s own equity  instruments; or • A derivative that will or may be settled other than by the  exchange of a fixed amount of cash or another fi nancial  asset for a fixed number of the entity’s own equity  instruments.