A Real Estate Investment Trust is a security that sells like a stock on an index and invests in property directly. REITs receive special Tax statuses and normally offer investors high returns, as well as a highly liquid method of investing in property.
Relevant Life Cover is a Term Assurance Plan available to employers to provide an individual death in service benefit for an employee. It is meant to pay a lump sum if the employee dies whilst employed during the length of the policy. It may also payout if the employee is diagnosed with a terminal illness. A Relevant Life Plan is paid for by the employer.
This is where you can replace an existing mortgage with a new one. It is done to save money. This might be possible by changing your Mortgage with the lender or by switching to another lender.
A Life Insurance policy that gives cover for a specified time period, the policy can be renewed towards the end of the period. A Term Life Insurance policy that pays a lump sum upon the death of the individual, but ceases to pay this benefit if they are still alive when the policy ends. Upon the expiration of the policy, the individual can choose to have it renewed.
Is simply a long term loan, often for the purchase of property in which the individual makes monthly payments.
This covers both the interest on the loan and the repayment of the capital borrowed. In the early years, a large portion of the payment is used to cover the interest charged, but as the principal is gradually repaid, the interest decreases and the repayment increases.
Retirement plans are where an employer makes contributions toward a pool of funds for an employee, which they will get upon retirement. The pool of funds is invested on behalf of the employee.