Bodily Injury Liability Coverage Financial Glossary

What is it? The part of an auto insurance policy that provides coverage against injuries caused to other people by the insured.

Finance Term Definition Added By: Riley

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Financial Term Whole Life Insurance is An insurance policy that will cover you for your whole life, no matter how long that happens to be. Because this is maximum coverage, it is also more expensive than term life insurance.

Financial Term downstream guaranty is A guaranty of a loan to a borrowing entity when the guarantor is a parent company or stockholder of the borrowing entity.

Financial Term Parent Company is A company that owns or otherwise controls another company or companies. First PacTrust Bancorp, Inc. is the parent company of Pacific Trust Bank.

Financial Term Reserves and funds is Savings we have built up from surpluses.

Financial Term Tax Free is Investments whose earnings are never taxed. For example, municipal bond fund dividends are never taxed at the federal level. However, you may still have to pay capital gains taxes if you sell them at a profit.