Business / Finance Glossary

Life Cycle: The lifetime of a product or business, from its creation to its demise or transformation.

Life Expectancy: The length of time that an average person is expected to live, which is used by insurance companies use to make projections of benefit payouts.

Life Insurance: An insurance policy that pays a monetary benefit to the insured person's survivors after death.

Life Insurance In Force: The dollar amount of life insurance that a company has issued, measured as the sum of policy face values and dividends paid.

Life Insurance Policy: The contract that sets out the terms of life insurance coverage.

Lifetime Reverse Mortgage: A type of mortgage in which a homeowner borrows against the value a home, while retaining title, and making no payments while residing in the home. When the owner ceases living in the house, . . . View Full Definition

LIFO: See last in, first out.

Lift: An increase in securities prices, as shown by some economic indicator.

Lifted: Refers to over-the-counter trading. Having an offer taken in a stock, followed by the market maker raising the offer price.

Lifting A Leg: Closing out one side of a long-short arbitrage before the other is closed.

Lighten Up: Selling some part of a stock or bond position in a portfolio to realize capital gains or to losses or increase cash assets.

Limit On Close Order: An order to buy or sell stock at the closing price only if the price is at a predetermined level or better.

Limit Order: An order to buy a stock at or below a specified price, or to sell a stock at or above a specified price. For instance, you could tell a broker 'buy me 100 shares of XYZ Corp at $8 or less' o . . . View Full Definition

Limit Order Book: A record of unexecuted limit orders maintained by the specialist. These orders are treated equally with other orders in terms of priority of execution.

Limit Order Information System: The electronic system supplying information about securities traded on participating exchanges so that the best securities prices can be found.

Limit Up, Limit Down: The maximum price change allowed for a commodity futures contract per trading day.

Limitation On Asset Dispositions: A bond covenant that restricts in some way a firm's ability to sell major assets.

Limitation On Conversion: Applies mainly to convertible securities. Possible delay in convertibility. More frequently, the right to convert may be terminable prior to a redemption date, preventing the holder from rec . . . View Full Definition

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