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Waiver of Premium - an insurance that means that if you cannot keep up the payments on your policy for reasons of ill health then the insurance company will eventually pay out AS IF

you had kept up the payments.

Wasting Asset - an asset whose value is expected to reduce over time.

Will - legal document that determines what happens to your estate when you die. You can do pretty much what you like, (though people financially dependent upon you do have a right to expect reasonable treatment).

Will Trust - a trust set up by a Will. E.g. "the house in Spain shall be sold and the

proceeds invested for little Johnny. The income can be used for his schooling and holidays,

and he gets the capital at age 21. "

With Profit Policy - A policy whose value depends upon the returns and profits made by the insurance company.