Insurance
Tax shelters- (As with pension plans, live insurance policies are tax shelteris or a way to
postponing payment of tax. You don´t have to pay income tax on life insurance premiums.
A lump sum- a single, large amount of money paid out when an insurance policy matures- will
be taxable.
Insurance companies have to invest the money they recieve from premiums. Like pension
funds, they are large isitutional investors that invest huge sum in securites, especially low-risk
government bonds.
Lloyd´s of London- the largest insurance market in the world. This is an assiciation of people
called underwriters.
Underwriters- people who guarantee to indemnify other people´s possible losses.
Lloyd´spreads (hajutavad) risks among a number of syndicates.
Syndicates- groups of wealthy individuals, commonly known as ´names´. These people can
earn a lot of money from insurance premiums if the clients never claim for compensatsion , but
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