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					Word(s) :   IASA - Instant Access Savings Account. IFA - Independent Financial Adviser - a qualified consultant who gives independent advice on all financial products. Illustration - An estimation of the returns you might get from an investment, based on specified growth rates and taking into account any extra charges or fees which you might have to pay. IMRO - No longer exist all under FSA. In arrears - Money which you owe but have not paid in time. Income multipliers - a calculation used by mortgage lenders to work out the maximum you are allowed to borrow based on your income. Income protection insurance / policy - see Accident, sickness and unemployment (ASU) cover. Income tax - tax paid on income within a given financial year (April-April). Income share - A share in an investment trust for investors who want to earn an income. Indemnity policy - Home contents insurance that only covers you for the second-hand value of you possessions. Index Linked - Money (usually premiums and/or benefits on an insurance policy) which rises (or falls) automatically each year in line with inflation. Index Linked Certificates - A form of government National Savings in which the rate of interest is fixed at a certain level which is related to the rate of inflation. Index Tracking - A type of investment fund that follows a particular index as closely as possible. It removes the need to employ expensive fund managers, which means charges tend to be lower. The value of the investment will go up and down in line with the index which it is matching. Indexation - A method by which payments or benefits go up or down in line with an index of prices or earnings. Individual Savings account - A type of savings or investment account which is exempt from income and capital gains tax. You can use it to save cash or to invest in stocks and shares. Inflation - the percentage increase or decrease in prices each year. Inheritance Tax - IHT - This tax is payable at the time of death on money, property, investments and other assets (e.g. - valuable paintings). Initial Charge - A one-off charge deducted from your investment money when you first invest in an investment or unit trust. Inland Revenue - The Inland Revenue is the government department responsible for the assessment and collection of direct tax on income, capital gains, stamp duties, companies' profits and inheritance tax. Instant Access Account - A savings account that allows you to withdraw money whenever you want without penalty. Insurance (more) - The act, system, or business of providing financial protection against specified contingencies, such as death, loss or damage. Insurance premium tax -Tax imposed on most insurance policy premiums (it does not apply to life insurance policies). Insured - A person or organisation covered by an insurance policy. Insurer - The party to an insurance contract who promises to pay losses or benefits, usually an insurance company. Intermediary - A person or organisation that offers advice and arranges policies for clients. Interest - The charge made for borrowing a sum of money. Interest bearing current account - A bank or building society account offering a chequebook and cash card, and paying interest on the account balance. Interest free credit - A type of credit offered by stores where you pay for your purchases in equal installments over a set period of time, usually 6 to 12 months, and on which no interest is added. Interest only mortgage - a mortgage where repayments cover interest accrued on the loan alone. The balance of the mortgage remains fixed until the end of the term when repayment is due in full, usually using funds built up through an endowment policy or other investments taken out at the start of the mortgage. Intestate - Not having made a will before your death. Investment income - Income earned from investments, including interest and dividends on stocks and bonds. Investment trust - an investment made by a listed company into another company, where shares are sold on investors. IPT - Insurance Premium Tax - a tax levied on all general insurance in the UK . ISA - Individual Savings Account - savings account with tax benefits. Savings can be made through cash deposits, stocks and shares or insurance. ISA mortgage (more) - an interest-only mortgage that is linked to a savings fund, designed to repay the mortgage at the end of the term.