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Variable Life
Categories: Insurance,
life insurance for which the amount of the payments is determined by the performance of the underlying investments chosen by the policyholder. Agents selling such policies must be registered representatives of a broker/dealer licensed by the NASD and registered with the SEC. Choices range from low-risk fixed income funds to high-yield stock and bond funds. These accounts are typically accompanied by higher fees. Returns are generally not guaranteed and investment risk is assumed by the policy holder instead of the insurance company. Premiums remain fixed under this arrangement. As would be expected, the better the investments perform, the larger the death benefit will be. However, the death benefit will not drop below a certain minimum, regardless of investment performance.
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Definition / Meaning of
National Association Of Securities Dealers Automated Quotations System
Categories: Stocks, Investing and Trading, Brokerages,
Nasdaq. A computerized system established by the NASD to facilitate trading by providing broker/dealers with current bid and ask price quotes on over-the-counter stocks and some listed stocks. Unlike the Amex and the NYSE, the Nasdaq (once an acronym for the national association of securities dealers Automated Quotation system) does not have a physical trading floor that brings together buyers and sellers. Instead, all trading on the Nasdaq exchange is done over a network of computers and telephones. Also, the Nasdaq does not employ market specialists to buy unfilled orders like the NYSE does. The Nasdaq began when brokers started informally trading via telephone; the network was later formalized and linked by computer in the early 1970s. In 1998 the parent company of the Nasdaq purchased the Amex, although the two continue to operate separately. Orders for stock are sent out electronically on the Nasdaq, where market makers list their buy and sell prices. Once a price is agreed upon, the transaction is executed electronically.
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