Definition of Bond

Bond

Fixed interest security issued by a corporation or government, having a specific maturity date.

Segregated Fund

Sometimes called seg funds, segregated funds are the life insurance industry equivalent to a mutual fund with some differences.The term "Mutual Fund" is often used generically, to cover a wide variety of funds where the investment capital from a large number of investors is "pooled" together and invested into specific stocks, bonds, mortgages, etc.
Since Segregated Funds are actually deferred annuity contracts issued by life insurance companies, they offer probate and creditor protection if a preferred beneficiary such as a spouse is named. Mutual Funds don't have this protection.
Unlike mutual funds, segregated funds offer guarantees at maturity (usually 10 years from date of issue) or death on the limit of potential losses - at times up to 100% of original deposits are guaranteed which makes them an attractive alternative for the cautious and/or long term investor. On the other hand, with regular mutual funds, it is possible to have little or nothing left at death or plan maturity.

Foil-Faced Vapor Retarder

Created by coating a foil-backed paper with a thin layer of asphalt adhesive. The coated side of the foil-backed paper is then applied to the un-faced insulation material. The asphalt adhesive bonds the foil-backed paper and the insulation together.

Glued Laminated Beam (Glulam)

A structural beam composed of wood laminations or lams. The lams are pressure bonded with adhesives to attain a typical thickness of 1 ½" . (It looks like 5 or more 2 X 4's are glued together).

Kraft-Faced Vapor Retarder

Created by coating kraft paper with a thin layer of asphalt adhesive. The coated side of the kraft paper is then applied to the unfaced insulation material. The asphalt adhesive bonds the kraft paper and the insulation together.

Life Income Fund

Commonly known as a LIF, this is one of the options available to locked in Registered Pension Plan (RPP) holders for income payout as opposed to Registered Retirement Savings Plan (RRSP) holders choice of payout through Registered Retirement Income funds (RRIF). A LIF must be converted to a unisex annuity by the time the holder reaches age 80.

Registered Retirement Income Fund (Canada)

Commonly referred to as a RRIF, this is one of the options available to RRSP holders to convert their tax sheltered savings into taxable income.

Pension Fund

Assets used to pay the pensions of retirees. An investment institution established to manage the assets used to pay the pensions of retirees.

Faced Insulation

Insulation with an attached vapor retarder (kraft paper or foil-backed paper).

Kraft-Faced Vapor Retarder

Created by coating kraft paper with a thin layer of asphalt adhesive. The coated side of the kraft paper is then applied to the unfaced insulation material. The asphalt adhesive bonds the kraft paper and the insulation together.

Polyethylene Vapor Barrier

Plastic film used to prevent moisture from passing through unfaced insulation. Both 4- and 6-mil polyethylene are preferred because they are less likely to be damaged during construction.

Un-faced Insulation

Insulation with no attached vapor retarder.

Vapor Retarder

Helps control the amount of moisture passing through the insulation and collecting inside exterior walls, ceilings and floors.

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