Life Insurance Terms

Investment Terms


Wavier of premium

A benefit added to certain life insurance policies, if the insured life is fully and permanently disabled, that will provide the wavier of premium and sometimes the monthly payment of income.

Whole life insurance

Permanent life insurance payable on the death of the insured life at any moment in the future, where premium payments are fixed under contract.


Usually a written legal document that specifies the person's disposition of property/assets/estate


The amount of cash that the owner of the policy may take from a Universal Life Policy that may/may not be subject to income tax


Certificates allowing the holder the opportunity to buy shares in a company at a stated price over a specified period. Warrants are usually issued in conjunction with a new issue of bonds, preferred shares or common shares.

Wrap account

An account offered by investment dealers whereby investors are charged an annual management fee based on the value of invested assets.

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