Mutual Fund
Combination of contributions of many investors whose money is used to buy stocks, bonds, commodities, options, and/or money market funds, or precious metals such as gold, or foreign securities. In theory, mutual funds offer investors professional money management and diversification into conservative investments, aggressive investments, or combinations of these. Mutual funds are sold either with a sales charge (load), no sales charge (no-load), or a moderate sales charge (low load). These funds charge a management fee as a percentage of assets under management, usually 1% per year on a downward sliding scale as the asset base increases. Many insurance companies sell mutual funds.
Popular Insurance Terms
Treaty adopted by most major countries to determine adjustment for general average in ocean marine insurance. ...
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Statement issued by the insurance company denying a claim under the insurance policy on the grounds that a condition or policy provision has been breached. ...
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Agency that sells insurance policies from both a stock insurance company and a mutual insurance company. ...
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