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Glossary of Terms
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Zero-coupon bond |
A bond in which no periodic coupon is paid over the life of the contract. Instead, both the principal and the interest are paid at the maturity date. | |
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Zero-coupon convertible security |
A zero-coupon bond convertible into the common stock of the issuing company after the stock reaches a certain price, using a put option inherent in the security. | |
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Zillmersation |
An actuarial adjustment to long-term business reserves to allow for the heavy initial expenses of writing such business. | |
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From The Glossary » | Betterment: |
| | The amount by which the insured will benefit when lost or damaged property is restored into better condition or through replacement. Many personal lines policies include new for old clauses. | | More Definitions » |
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