insurance bond
noun[C]
FINANCEukus(alsoinvestment bond)abondwhere theinvestmentispaidas asinglepaymentinto alifeinsuranceagreementfrom which thepersonwhoownsthebondreceivesaregularincome:
Singlepremiuminsurancebondsallowinvestorsto take up to 5% eachyear, with notaxforbasictaxpayers.