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Underwriter
A firm, often an investment bank, that buys stocks or bonds from a company in the process of an initial public offering, and then resells the investments to investors.
Unit
What you buy when you invest in mutual fund. Similar to a share of a stock. For example, you could buy 100 units in a mutual fund.
Universal life insurance
A type of permanent life insurance that lets you save up some of your payments (your premiums) in a cash account (the cash value). You can change your premiums any time. The amount your insurance pays will vary based on your premiums.
Unsheltered
A regular investment or account that does not shelter your money from tax. In other words, you have to pay tax on your savings and the money you make investing them.
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