Beneficiary
A beneficiary is someone in line to receive the benefits of a trust or the proceeds of an insurance policy.
Financial Services
Financial services are a category of businesses that serves the finance industry. This sector includes banks, credit unions, accounting firms, brokerage companies, insurance agencies, and mutual funds.
Underwriting
Underwriting is the process through which an individual or institution evaluates and assumes a financial risk. Generally, such risk involves insurance, investments, or loans. Thus, insurance companies indemnify against future loss, damage, or liability. Investment bankers guarantee the purchase of entire issues of stocks or bonds. And lending institutions provide capital for mortgages. The term “underwrite” dates back to the marine insurance market in 17th century. At famed insurer Lloyd's of London, each financial backer would write his name under the amount of maritime risk he was willing to assume for a specified premium.