I

Income Stock - Common stock that pays out a relatively large portion of earnings as dividends, resulting in a high yield for investors.

Individual Retirement Account (IRA) - A tax-favored retirement account that allows all earners to make contributions (in many cases, tax deductible contributions) of up to $2,000 a year and defer income tax on the IRA earnings until distributions are made from the IRA.

Inflation - The general increase in the cost of goods and services. Inflation is often measured by the Consumer Price Index, which represents a fixed basket of goods such as food, utilities, transportation, and medical care.

Insurable - An individual is insurable if he or she is able to obtain life insurance under the insurance company's underwriting criteria. Insurability is usually based upon the individual's age, health, occupation and lifestyle.

Insurer Risk - The risk that an insurance company will be unable to meet its obligations to policyholders.

Interest Rate Risk - The risk that a rise in interest rates will cause the price of bonds to fall. In general, there is an inverse relationship between interest rates and bond prices so that when interest rates rise, bond prices fall and vice versa.

International Bond - A debt security issued by a foreign corporation or government.

Investable Assets - Financial assets that are available for investing. This would exclude money or securities set aside in an emergency fund or earmarked for other purposes.

Investment Banker - An institution that assists corporations in raising capital from investors through stock offerings, etc.

Investment Management Account - An account through which a bank or other institution has the discretionary power to make investment decisions for an investor.

Investment Vehicle - An investment product that usually provides the investor with a diversified portfolio of securities. Examples are mutual funds, unit investment trusts and variable annuities.

IRC - The Internal Revenue Code, which is the federal tax law in the United States.