Terms & Definitions - U
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Underwriter: An investment firm that purchases a security directly from its issuer for resale to other investment firms or the public or sells for such issuer to the public.
Unit trust: An unincorporated fund whose organizational structure permits the conduit treatment of income realized by the fund.
Universal life insurance: A life insurance term policy that is renewed each year and which has both an insurance component and an investment component. The investment component invests excess premiums and generates returns to the policyholder.
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