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Wise 181-200
epf terms
| Term | Definition |
|---|---|
| Secured Credit card | A credit card backed by a cash deposit from the cardholder, reducing the risk to the issuer. |
| Secured loans | Loans backed by collateral to reduce the risk for the lender. |
| Unsecured loans | Loans that are not backed by collateral, based solely on the borrower's creditworthiness. |
| Tax preparers | Professionals who assist individuals and businesses in preparing and filing tax returns. |
| Title for goods | Legal ownership of a property or asset. |
| Truth in Lending Act of 1968 | A federal law designed to promote the informed use of consumer credit by requiring disclosures about its terms and cost. |
| Usury | The illegal practice of charging excessively high-interest rates on loans. |
| Variable interest | An interest rate that can change over time based on market conditions. |
| Variable rate | An interest rate that fluctuates based on changes in a benchmark rate. |
| Insurance | A contract that provides financial protection against losses or damages. |
| Annual deductible | The amount a policyholder must pay out-of-pocket before insurance coverage kicks in. |
| Assigned risk pool | A group of high-risk individuals who are unable to obtain insurance through standard means. |
| Automobile insurance | Insurance coverage for cars, trucks, and other vehicles. |
| Beneficiary | A person or entity designated to receive benefits from an insurance policy or trust. |
| Benefit period | The length of time during which an insurance policy will provide benefits. |
| Cash value | The amount of money that accumulates in a permanent life insurance policy. |
| Claim | A request made to an insurance company for payment based on the terms of the policy. |
| Collision insurance | Coverage that pays for damage to a vehicle resulting from a collision. |
| Comparison shopping | The practice of comparing prices and features of similar products or services. |
| Co-pay | A fixed amount paid by a patient for a specific medical service, with the remainder covered by insurance. |