Series Ee Savings Bonds
Definition of "Series ee savings bonds"
Bonds sold at a discount from their face value; accumulated interest paid at maturity, as in the case of zero coupon bonds. Interest rate minimum is guaranteed with the prevailing interest rate adjusted semiannually. As with all U.S. Treasury issues, interest earned on these bonds is exempt from state and local taxes. Federal income tax on the interest earned does not have to be prepaid until the bonds reach maturity.
Popular Insurance Terms
Statement submitted to the insurance company to accompany a request for the reinstatement of an insurance policy that has lapsed. This statement certifies that the insured's health has not ...
Coverage for a contractor's liability for injuries or property damage suffered by third parties as the result of the contractor completing an operation. The contractor must take reasonable ...
Contribution whose purpose is to increase funding of underfunded pension plans. It is part of the calculation that is made to arrive at the plan's minimum funding requirement. Usually a ...
Wondering what is Title Insurance? Let’s see if our title insurance definition helps you understand it 100%: It is a policy required of home buyers by lenders, to protect against ...
Policy not designed to pay the policyowner a dividend. ...
Recording and presentation of financial statements, such as the annual statement, by the insurance company. Financial reporting statements are used by the State Insurance Commissioner in ...
Situation where a stock insurer must invade its capital account in order to meet its obligations. Most states do not allow insurers to do this and quickly rescind their right to do business. ...
Same as term Limitations: exceptions and limitations of coverage; that is, the maximum amount of insurance coverage available under a policy. ...
Risk incurred by the insurance company after it makes the commitment to make the loan at some future time and the borrower may not accept the loan at that time. ...
Have a question or comment?
We're here to help.