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Financial Literacy in the News

Glossary of Terms

A lessor is the owner of property or equipment that leases it to a lessee.
A pension is money that you receive when you have retired from work. Many (but not all) companies provide a pension plan for their workers. This plan refers to the administration and...
This is the date that a life insurance policy comes to an end. If it's a form of term life and the policyholder is still alive, the policy would simply lapse and not pay out any...
If you are in debt, it means you owe money. Debt can sometimes be useful: few people can afford to buy a house without borrowing money (see Mortgage) and going into debt. Companies need to borrow...
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