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Glossary of financial terms



Death-in-service benefits

Lump sum and pension paid to the spouse or dependants of an employee who dies while still employed.


Complex financial instruments based on currencies, interest rates or shares that have made some people a lot of money and lost many other people a lot of money. For example, it was derivative trading that sank the Barings merchant bank.

Discount broker

A discount broker will sell you a unit trust more cheaply by avoiding the 3 per cent commission that is normally paid to an intermediary.


On some shares you get a modest payout every six months or a year. In American this is more likely to be quarterly. Dividends are also paid out on gilt-edged stock.

Dividend cover

The number of times the dividend per share can be divided into the earnings per share. The higher the cover, the safer your dividend.


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