Glossary beginning with U

Insurance Glossary

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Unit Trustsearch for term
  • A financial product where money from investors is pooled together and invested collectively in investments such as shares and bonds.
Universal Life Insurancesearch for term
  • A form of 'interest sensitive' whole life insurance that offers within certain limits flexibility in the amount, method and timing of premium payments.
  • Pays a death benefit.
  • Builds up a cash value which can be borrowed from or withdrawn.
  • Cash value earns interest at a rate that may change over time.
  • Some plans guarantee a minimum interest crediting rate.