Variable life insurance policy

Variable life insurance policy

Variable life insurance policy

A whole life insurance policy that provides a death benefit dependent on the insured’s portfolio market value at the time of death. Typically the company invests premiums in common stocks, and hence variable life policies are referred to as equity-linked policies.

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Variable annuities

Variable annuities

Variable annuities

Annuity contracts in which the issuer pays a periodic amount linked to the investment performance of an underlying portfolio.

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Variable

Variable

Variable

A value determined within the context of a model. Also called endogenous variable.

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Vanilla issue

Vanilla issue

Vanilla issue

A security issue that has no unusual features.

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Value-at-Risk model (VAR)

Value-at-Risk model (VAR)

Value-at-Risk model (VAR)

Procedure for estimating the probability of portfolio losses exceeding some specified proportion based on a statistical analysis of historical market price trends, correlations, and volatilities.

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Value-added tax

Value-added tax

Value-added tax

Method of indirect taxation whereby a tax is levied at each stage of production on the value added at that specific stage.

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Value manager

Value manager

Value manager

A manager who seeks to buy stocks that are at a discount to their “fair value” and sell them at or in excess of that value. Often a value stock is one with a low price to book value ratio.

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Value date

Value date

Value date

In the market for Eurodollar deposits and foreign exchange, value date refers to the delivery date of funds traded. Normally it is on spot transactions two days after a transaction is agreed upon and the future date in the case of a forward foreign exchange trade.

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