Level Premium Insurance

Level‑premium insurance is life insurance in which the premium you pay is fixed (does not change) for a guaranteed period. For term policies, “level”…

Judicial Foreclosure

Judicial foreclosure is a court-supervised process by which a lender asks a court to authorize the sale of a mortgaged property when the borrower…

Libel

Libel is a form of defamation consisting of a published or broadcast false statement that injures a person’s reputation or livelihood. Unlike slander (spoken…

Mobile Banking

Mobile banking is the use of a mobile device (smartphone, tablet, etc.) to access financial services and carry out transactions. That can range from…

Interest Rate Collar

• An interest rate collar is a hedging strategy that combines a long interest rate cap and a short interest rate floor on the…

Imputed Value

Imputed value is an estimated or assumed value assigned to an item, asset, cost, or data point when its true market or measured value…

Like Kind Property

Key takeaways – “Like‑kind property” is a tax term used in Section 1031 of the Internal Revenue Code to describe real property held for…

Implied Contract

Key takeaways – An implied contract is a legally enforceable agreement inferred from the parties’ actions, conduct, or the surrounding circumstances rather than from…

Jewelry Floater

A jewelry floater (also called a scheduled personal articles floater or a scheduled jewelry endorsement) is supplemental insurance you add to your homeowners or…

Joint Liability

Joint liability is a legal arrangement in which two or more people share responsibility for the same debt or legal obligation. When parties are…