Glossary

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Yearly Renewable Term (YRT) - Renewable term insurance that provides coverage for one year and allows the policy owner to renew his or her coverage each year, without evidence of insurability. Also called Annually Renewable Term (ART).

Yield - The interest or earnings on a mutual fund or other investment.

Yield Curve - The resulting graphical depiction when plotting investment yields opposite maturity periods.

Yield Curve Risk - The risk of losses due to adverse changes in the yield curve.

Yield Maintenance - A prepayment premium allowing investors to realize the same yield as if the borrower made all scheduled mortgage payments until maturity. Created to make investors indifferent to prepayments and to make refinancing unattractive and uneconomical to borrowers.

Yield to Maturity - Annual percentage return on an investment calculated to the investment's maturity. This is typically the basis for quotes on municipal bonds.

Glossary

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