I

insurance

A contract taken out with an insurer to protect against loss from a perceived risk. The person taking out the insurance is called the insured. Payments for the policy are called premiums.

income fund

An investment fund that aims to generate current income in the form of dividends or payments from stocks and bonds, rather than capital growth. Income funds are regarded as conservative investment, and tend to be popular with retirees and other investors looking for a steady cash flow without taking on too much risk.

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