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Life Insurance Terms |
Investment Terms |
U |
Underwriting
The process whereby the insurer assesses the potential risk of the life insured, when the application is made for insurance. UnderwriterThe individuals at an insurance company who assess the risk of the life insured. Universal life insuranceA type of insurance that is a combination of insurance and investment and offers flexibility unlike other insurances (flexible insurance coverage, flexible premiums, and tax-deferred investment account) Unenforceable contractA valid contract that cannot be carried out if one party refuses to comply with the terms (an insurance contract requires: need for legal capacity, meeting of the minds, and no evidence of fraud, forgery or theft) |
Underwriter
An investment firm that purchases a security directly from its issuer for resale to other investment firms or the public or sells for such issuer to the public. Unit trustAn unincorporated fund whose organizational structure permits the conduit treatment of income realized by the fund. |
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