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Personal Finance Glossary

P/E Passive Management Pay Date Payee Payee Account Number Payment Protection Percent Change Percent Profit Period Certain Payout Periodic Rate Points Policy Owner Policy Year Preferred Risk Preferred Shares Premium Premium Tax Prepaid Tuition Plan Prepayment Penalty Prequalification Previous Price-to-Earnings Ratio (P/E) Primary Beneficiary Prime Rate Principal Private Mortgage Insurance (PMI) Probate Proceeds Prospectus Put Option

Private Mortgage Insurance (PMI) Coverage provided by private insurers to protect mortgage lenders against loss if borrowers default on payments. Most lenders require borrowers to purchase PMI if down payments do not meet a designated minimum.

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