I
INDIVIDUAL RETIREMENT ACCOUNT (IRA)
In the United States, a tax-sheltered savings plan that allows some citizens
to make pre-tax contributions to an approved account. The contributions and investment
earnings are taxable as income only when paid out. Investors can establish IRAs through
a number of financial institutions, including insurance companies.
INSURED
The person whose life is insured by the policy. That person may or may not be
the policy owner.
IRREVOCABLE BENEFICIARY
A life insurance policy beneficiary designation which prevents the beneficiary
designation from being changed unless the owner first obtains the irrevocable beneficiary's
consent.
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B -
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H -
I -
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M -
N -
O -
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Q -
R -
S -
T -
U -
V -
W -
X -
Y -
Z
