Use our Jargon Buster to cut through the complicated language financial services companies sometimes use, and find out what it really means. The list is in alphabetical order so you can scroll down to look up words and their meanings:
Underwriting Calculating the risk that you will make a claim on an insurance policy, based on information such as your age, sex, health and occupation. When this has been decided, the underwriters can then decide how much your insurance premiums should be.
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Unitised with-profits A with-profits product that distributes any profits on a daily basis typically at 1/365th of the annual rate. A Market Value Reduction may apply to this product in certain circumstances.
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Unsecured Pension (USP) The income paid from a short-term annuity contract only available to those under age 75.
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