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underwriter (banking)

A person, banker or group that guarantees to furnish a definite sum of money by a definite date in return for an issue of bonds or stock.

underwriter (insurance)

The one assuming a risk in return for the payment of a premium, or the person who assesses the risk and establishes premium rates.

underwriter (investments)

In the bond/stock market means a brokerage firm or group of firms that has promised to buy a new issue of bonds/shares from a government or company at a fixed discounted price, then arranges to resell them to investors at full price.

unemployment rate

The number of people unemployed measured as a percentage of the labor force.

universal life insurance

An adjustable Universal Life insurance policy provides both a death benefit and an investment component called a cash value. The cash value earns interest at rates dictated by the insurer. The policyholder may accumulate significant cash value over the years and, in some circumstances, "borrow" the appreciated funds without paying taxes on the borrowed gains (taxes may be required if policy is surrendered). As long as the policy stays in force the borrowed funds do not need to be repaid, but interest may be charged to your cash value account. Premiums are adjustable by the policy owner.