Definition of "I-bonds"
Bonds issued by the United States Treasury that earn a fixed interest rate plus the rate of inflation. These bonds are sold at face value in denominations of $50 up to $5000 and may earn interest for up to 30 years. These bonds may be liquidated at any time after they have been in force for at least six months, but if liquidation occurs during the first five years, three months of interest must be forfeited. The interest earned is compounded twice a year and paid when the bond is redeemed. Protection against loss of principal and purchasing power while accumulating tax-deferred interest are some of the advantages of this Treasury-backed issue.
Popular Insurance Terms
Act passed by Congress in 1991, the purpose of which is to make it easier for consumers to compare deposit accounts among savings institutions (SI). Some of the act's more important ...
Agreement concerning an insured individual, not the insured's property. A property and casualty insurance contract cannot be assigned, since it follows the insured, not the property. For ...
Automatically extended reporting period of five years, during which claims may be made after a claims made basis liability coverage policy has expired, provided these claims are the result ...
Redistribution of wealth by taking money from one group of individuals and allocating that sum to another group of individuals, social insurance is such a mechanism, since the high-income ...
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Record of insurance policies sold to an individual. ...
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