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Personal Finance Glossary

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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
Current TermUnilateral
Uninsurable Risk
Universal Life Insurance
Unlimited Marital Deduction
Unsecured Debt
Unilateral
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.

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