Glossary


Life Insurance Terms

Investment Terms

T

Temporary Insurance Agreement (TIA)

An agreement between the insurance company and the insured life, sometimes called binding premium receipt or conditional insurance agreement

Term life insurance

A form of life insurance for a specific set time period that is provided to the beneficiary if he/she dies within that period of time

Term to 100

A type of permanent life insurance in which the cash value and paid-up benefits are decreased, restricted, or eliminated when the policy is terminated prior to the life insured's death

Travel insurance

Insurance that provides the coverage for unexpected costs that could take place while on travel. Examples include medical costs, emergency hospital costs, lost baggage costs, and accidental death insurance.

Tax credit

An income tax credit that directly reduces theamount of income tax paid by offsetting other income tax liabilities.

Tax deduction

A reduction of total income before the amount of income tax payable is calculated.

Technical analysis

A method of evaluating future security prices and market directions based on statistical analysis of variables such as trading volume, price changes, etc., to identify patterns.

Trade

A securities transaction.

Treasury bill (T-bill)

Short-term government debt. Treasury bills bear no interest, but are sold at a discount. The difference between the discount price and par value is the return to be received by the investor.

Trust

An instrument placing ownership of property in the name of one person, called a trustee, to be held by the trustee for the use and benefit of some other person.

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