Glossary

Glossary definitions provided in part by the Jump$tart Coalition for Personal Financial Literacy.

Insurance, Renters: Protects from losses due to damage to the contents of a dwelling rather than the dwelling itself.

Insurance, Renters: Protects from losses due to damage to the contents of a dwelling rather than the dwelling itself.

Insurance, Return of Premium Term: A life insurance policy which gives you all your money back if you don't use the policy.

Insurance, Return of Premium Term: A life insurance policy which gives you all your money back if you don't use the policy.

Insurance, Term Life: A type of life insurance which is in effect for a specified period or until a certain age of the insured. It pays the face amount of the policy in case the insured dies within the coverage period (term) but pays nothing if he or she outlives it.

Insurance, Term Life: A type of life insurance which is in effect for a specified period or until a certain age of the insured. It pays the face amount of the policy in case the insured dies within the coverage period (term) but pays nothing if he or she outlives it.

Interest : 1. Cost of borrowing money. 2. Earnings from lending money.

Interest income: Money that financial institutions, governments, or corporations pay for the use of investors' money.

Internal Revenue Service (IRS): A part of the United States Department of Treasury. The national tax collection agency.

Intrinsic Reward : A reward that comes from within rather than externally when an activity or object is pleasurable in and of itself.

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