PERSONAL FINANCE GLOSSARY

U.S. Savings Bonds

U.S. Treasury Bill

U.S. Treasury Bond

U.S. Treasury Note

U.S. Treasury Securities

Underwriter

Uniform Simultaneous Death Act

Unilateral

Uninsurable Risk

Universal Life Insurance

Unlimited Marital Deduction

Unsecured Debt

A life insurance contract is unilateral in nature. Only one party of the contract, the insurance company, gives a legally enforceable promise. The owner of the contract does not promise to pay premiums, but if he or she does, the company is bound to accept them and to meet its obligations under the contract.