Related Words

Bank Insurance Fund (BIF): A unit of the Federal Deposit Insurance Corporation (FDIC) that provides deposit insurance for banks excluding thrifts.

Nonbank Banks: Nonbank banks, also called limited-service banks, offer some but not all of the services of a traditional commercial bank. They're typically owned by companies, including insurance companies . . . View Full Definition

Nonparticipating Life Insurance Policy: Life insurance policy whose policyholders do not receive dividends, because they are not participants in the interest, dividends, and capital gains earned by the insurer on premiums paid.

Non-Refundable: A fare that cannot be refunded either in cash or via a credit card credit; very seldom is there an exception.

No-Load Fund: A mutual fund that does not impose a sales commission. Related: Load fund, no-load mutual fund.

No-Load Mutual Fund: You buy a no-load mutual fund directly from the investment company that sponsors the fund. You pay no sales charge, or load, on the fund when you buy or sell shares. Although, no-load funds . . . View Full Definition

Nonrefundable: Not permitted, under the terms of an indenture, to be refundable.

Nonrefundable Tickets: A no money back purchased ticket. Airlines usually allow customers to 'reuse' the same amount of the ticket purchased in future travel for a little fee.

Open-End Fund: Used in the context of general equities. Mutual fund that continually creates new shares on demand. Mutual fund shareholders buy the funds at net asset value and may redeem them at any time . . . View Full Definition

Offshore Fund: An offshore fund is a mutual fund that’s sponsored by a financial institution that’s based outside the United States. Unless the fund meets all of the regulatory requirements imposed on dome . . . View Full Definition