Universal life

Definition:

A whole life insurance product whose investment component pays a competitive interest rate rather than the below-market crediting rate.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Imputed interest

Used in accounting to refer to interest that has effectively been paid to a bondholder, even though no money has actually been paid.

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