TomorrowMakers ™

Glossary

(Please click on alphabets above to access specific pages)

Executor

An executor is a person or an institution, designated in a will, to carry out its instructions and the wishes of deceased person. The executor is appointed by the person who makes the will (testator) or by a court.

Exchange Rate

It the value of a country's currency in terms of another country's currency. It is the rate at which one nation's currency can be exchanged for another.

Effective date

The date when the insurance policy starts.

Endowment Plan

A savings life insurance policy which has a specific maturity date. In case of an unfortunate event such as the death of the insured, a death benefit equal to the sum assured is paid to the beneficiaries. If the insured survives, he/she receives the maturity benefit.

EEE Tax Benefit

When a financial product offers an investor the EEE Tax Benefit i.e. Exempt Exempt Exempt, this means that the funds invested in that product, the capital gains and interest income earned on that product, and the withdrawals made from that product, are all exempt from tax.

Embezzlement

Fraudulently gaining control of another person or organization's money, by force or scam strategies.

Exclusion

A condition in an insurance policy that restricts or removes coverage for certain risks, people, property classes, or locations.

Equity Financing

The act of raising money for meeting the operational needs of an organization by selling out its shares. The shareholders thereby possess partial ownership rights in the organization in return for the investment made.

EEE Tax Benefit

When a financial product offers an investor the EEE Tax Benefit i.e. Exempt Exempt Exempt, this means that the funds invested in that product, the capital gains and interest income earned on that product, and the withdrawals made from that product, are all exempt from tax.

Embezzlement

Fraudulently gaining control of another person or organization's money, by force or scam strategies.

Exclusion

A condition in an insurance policy that restricts or removes coverage for certain risks, people, property classes, or locations.

Effective date

The date when the insurance policy starts.

Endowment Plan

A savings life insurance policy which has a specific maturity date. In case of an unfortunate event such as the death of the insured, a death benefit equal to the sum assured is paid to the beneficiaries. If the insured survives, he/she receives the maturity benefit.

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- Benjamin Franklin -

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