IFA Jargon Buster

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This usually refers to a corporate bond or gilt and is the price at which it was first issued. This is sometimes also referred to as the 'face’ or ‘par’ value.

This relates to general insurance policies (such as motor or buildings and contents cover) where you will be given a discount on your premium if you haven't made a claim for a number of years.

The income (or profit) on an investment after deducting all relevant expenses, such as commission, taxes and the cost of purchase.

A workplace pension scheme available to all employers in the UK when choosing which company pension plan they would like to use for staff.

A term used if the market value of your house is less than the amount you owe on your mortgage.

Payments made based on earnings by employees, employers and self-employed individuals to the Government. Making NI contributions entitles you to a range of benefits, including the state pension.

The index of more than 3,000 leading technology stocks in the USA.