49 Separate account group contracts are large group contracts that  have an individually determined asset investment underlying the  pension contract. A guarantee usually consists of profit sharing,  and is the highest of either the market interest rate or the  contractual interest rate, 3% or 4%. If profit sharing turns into  a loss, the minimum guarantee becomes effective, but the loss  in any given year is carried forward to be offset against future  surpluses. In general, the guarantee is dependent on the life of  the insured so that their pension benefit is guaranteed. Large  group contracts also receive part of the technical results for  mortality risk and disability risk. The contract period is typically  five years and the tariffs, cost loadings and risk premiums are  generally fixed over this period. For the majority of company and industry customers, Aegon  the Netherlands provides a full range of pension products  and services. In addition, TKP Pensioen specializes in pension  administration for company and industry pension funds and  provides defined contribution plans to corporate and institutional  clients, Aegon PPI offers defined contribution plans for small and  medium companies. The Non-life business consists of general insurance and accident  and health insurance.  Separate account guaranteed group contracts provide  a guarantee on the benefits paid. The longevity risk therefore  lies with Aegon the Netherlands. Non-guaranteed separate  account group contracts provide little guarantee on the benefits.  Aegon the Netherlands may not renew a contract at the end of  a contract period. Aegon offers all customers a defined benefit product with  guaranteed benefits. The expected profit is paid to the customer  upfront, with the premium adjusted for anticipated investment  returns. Customers may contribute funds for future pension  increases to a separate account. Aegon the Netherlands also  offers defined contribution products with single and recurring  premiums to all customers. Profit sharing is based on investment  returns on specified funds, and all positive and negative risks,  such as investment risk and longevity risk, are attributed to the  employees.  Aegon the Netherlands offers general insurance products in the  corporate and retail markets. These include house, inventory, car,  fire and travel insurance. Aegon the Netherlands offers disability and sick leave products to  employers that cover sick leave payments to employees not covered  by social security and for which the employer bears the risk.  A decrease in the number of company and industry pension funds  in the Netherlands will continue over the next few years. By law,  the assets and liabilities of a terminated pension fund must be  transferred to another pension provider. Aegon the Netherlands  offers a pension fund buy-out product for its terminating pension  funds, for which it takes on the guaranteed or non-guaranteed  liabilities, with or without annual pension increases, and receives  a lump-sum premium. All risks related to the transferred benefits  are carried by Aegon the Netherlands. Aegon the Netherlands offers non-life insurance products  primarily through the Aegon intermediary channel, and through  the direct channel Aegon Online and strategic partnerships, such  as with local retailer Kruidvat. Aegon also uses the co-assurance  market for the corporate sector, and Sales and account  management provides products for larger corporations in the  Netherlands. Unirobe Meeùs Group is the main distribution channel owned by  Aegon the Netherlands, through which it offers financial advice  to its customers, including the sale of insurance, pensions,  mortgage loans, financing, savings and investment products.  Distribution Sales and distribution General insurance Accident and health insurance Products Non-life Sales and distribution Most of Aegon the Netherlands’ pensions are sold through  Sales and account management and Aegon’s intermediary  channel. Customers include individuals, company and industry  pension funds, and small, medium and large corporations. Aegon  the Netherlands is one of the country's leading providers of  pensions 1 .  1 Source: DNB/CVS Reports 2012.