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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 » | Policy Benefit: |
| | A policy benefit is much the same as its proceeds, but whereas proceeds refer more directly to investment policies, benefits relate more to risk policies, life or disability. Both have to do with the policy 'paying out'. | | More Definitions » |
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