APPLY
NOW / LOGIN
GLOSSARY
Subrogate
To subrogate is to substitute one party for another with respect to a legal claim. When a collection agency takes responsibility for a debt on behalf of a client, for example, subrogation occurs.
Substandard health annuity
Substandard health annuity is a type of insurance contract that makes periodic payments to an individual whose lifespan is likely to be shortened by a pre-existing and documented health condition. Such an annuity would have a higher periodic payment amount because of the expected, shortened lifespan of the annuitant.
Subvented lease
Subvented lease is a discounted lease offered by an auto dealer via the manufacturer, usually for vehicle models that aren't selling well. The discount is achieved by lowering the rate of interest, or raising the vehicle's residual value.
Super sinker
Super sinker is a specialized bond that has a long-term yield and a short-term maturity. This type of bond might be backed by home mortgages; since a certain percentage of mortgages are paid off early, these prepayments can be used to repay principal to bondholders at maturity.
Superannuation
Superannuation is another term for a company pension plan. This is an employer-established retirement plan that can be funded by employer or employee contributions. Contributions may be tax-deductible, and earnings within the account may be tax-deferred.
Supplemental Educational Opportunity Grant (SEOG)
Paid for by a combination of government and college funds, these awards are given to undergraduates and can be up to $4000. Pell grant recipients receive highest priority for the grants.
Supplemental medical insurance
Supplemental medical insurance is an extra form of health insurance coverage that adds to an individual's primary coverage. Medicare Plan F, for example, is supplemental medical insurance.
Support test
Support test is one of five tests used to determine if you can claim another individual as a dependent on your tax return. To fulfill the support test, you must have funded more than half of the other person's living expenses during the tax year.
Surcharge
Surcharge is an extra assessment, tax, or amount owed.
Surrender charge
Surrender charge is an assessment imposed for cancelling a contract early. Insurance companies typically assess surrender charges when their customers cancel life insurance policies or annuity contracts prior to maturity. Surrender charge is also called surrender fee.
Surrender fee
Surrender fee is an assessment imposed for cancelling a contract early. Insurance companies typically assess surrender fees when their customers cancel life insurance policies or annuity contracts prior to maturity. Surrender fee is also called surrender charge.
Surtax
Surtax is an extra assessment imposed on an individual or entity. Surtaxes are normally in the form of a tempory increase in income tax, which might be used to finance a major war or initiative.
Survery
A drawing of a property by a lead surveyor showing precise measurements, boundary encroachments and other physical properties.
Survey
Exact measurements of a parcel's dimensions, relation to landmarks and location and dimensions of improvements. The survey will allow you to view from above, your lot lines and encroachments between you and your neighboring lots.
Suspicious Activity Report - SAR
Suspicious Activity Report, or SAR, is a filing made by a financial institution when it suspects that an individual or entity is involved in money laundering activity or other related criminal violations of federal law. The SAR is filed with the Financial Crimes Enforcement Network (FinCEN).