Cash value life insurance
Definition
A combination of term life insurance with a savings component. A portion of the premium is used to fund a savings or investment component that the policyholder can access by borrowing against it or by cashing in the policy.
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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University
Term of the Day
Municipal notes
Short-term notes issued by municipalities in anticipation of tax receipts, proceeds from a bond issue, or other revenues.
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