Jargon Buster
W
Whole Life Policy
A life insurance policy which pays a specified amount on the death of the life assured.
Winding Up
The legal termination of a pension scheme.
With Profits Policy
A policy which usually has annual bonuses added to the sum insured. On death or maturity a terminal bonus may also be applied to the fund value.
Working Capital
The amount of money tied up in the day to day operations of the business.
Work-out solutions
An informal reorganisation of the business and settlement of its affairs outside of formal insolvency proceedings.
X
XD ( Ex-Dividend)
The interval between the announcement and payment of the next dividend or, in the case of a unit trust, the next income distribution.
Y
Yield
The annual dividend or income from an investment.
Z
Zero Rated
Goods or services that are taxable for VAT but with a tax rate of zero.
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