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

High-premium convertible debenture

A bond with a long-term, high-premium, common stock conversion feature. It also offers a competitive interest rate. This type of investment vehicle is aimed at bond investors who want to be able to... Read More

Subscribe to the Term of the Day via email Get the Term of the Day in your inbox!


Create your free portfolio