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B


Balanced Fund
These funds combine objectives of growth and income by investing in stocks for appreciation and bonds for income payments.


Beneficiary, primary
  
The person or other entity that will receive the proceeds upon the death of the insured or annuitant.  


Beneficiary, contingent or secondary
  
The person who will receive the proceeds only if the primary beneficiary has died before the insured.  


Beneficiary, irrevocable
  
A beneficiary designation that cannot be changed by the certificate owner unless the change is approved by the irrevocable beneficiary.


Beneficiary, revocable
  
A beneficiary designation that can be changed by the certificate owner without the approval of the current beneficiary.  


Blue chip stock
  
A publicly traded stock of a company known for the quality and wide acceptance of its products, services and management, and for its ability to profit and pay dividends to shareholders.  


Bond
  
A certificate of indebtedness in which the issuer (borrower) promises to pay the bondholder (creditor) a specified amount of interest for a specified time period and to repay the debt at maturity.  Bondholders are creditors of the issuer, and they do not have ownership.  


Breakpoint
  
Dollar levels of investment purchases in a mutual fund that qualify an investor for reduced sales charges.  The purchases may either be a lump sum or by accumulating shares.  


Buy-and-hold
  
An investing strategy that calls for buying an investment and holding it for a long period.  This allows the investor to participate in the long-term growth of the specific investment and potentially pay favorable capital gain tax rates.


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