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Rating: Insurance companies reserve the right to impose a surtax on the policy of the insured if that person's health is not up to the national average statistics.

Recurring Payment: A payment that is for a fixed amount and occurs at regular intervals, e.g., monthly.

Rentals: Payments required under a lease to be made by the lessee to a lessor for use of equipment.

Rescision Period: The three business days immediately following the closing of a non-purchase loan transaction using the borrower's principal dwelling as collateral.

Rescision: The act of canceling or terminating a contract.

Residual Estate: The portion of an estate that remains after all debts have been paid and specific bequests have been distributed.

Residual Value: Lessor's expected fair market value of leased equipment at the conclusion of the lease term.

Revocable Trust: A trust that can be changed or terminated during the grantor's lifetime.

Riders: Add-ons to a policy, i.e., a waiver of premiums, accidental death and dismemberment, or automatic premium loan.

Right of Recision: In a credit transaction secured by the borrower's principal dwelling, the right of each owner of the dwelling to cancel the transaction before midnight of the third business day after the loan is consummated.

Roth IRA: The Roth IRA is just the opposite of a traditional IRA. Roth IRA contributions are always non-deductible, distributions are tax-free and penalty-free as long as the account has been opened for 5 years and the distributions are taken after age 59-1/2. Distributions can also be taken in case of death, disability or qualified special purposes. There is also no age requirement for mandatory distributions.