ROLLOVER Meaning and
Definition
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Rollover is a term typically used in various contexts to describe the act or process of carrying or transferring a certain amount, value, or balance from one period to another, often involving a financial or contractual agreement.
In the financial domain, rollover commonly refers to the renewal or extension of a loan or debt. When the repayment period of a loan is completed but the borrower cannot pay off the principal balance, they may opt for a rollover by refinancing the debt, which involves extending the repayment period and often incurring additional fees or interest charges. Rollovers are also associated with retirement plans, such as 401(k) and Individual Retirement Accounts (IRA), where account holders are allowed to move funds from one plan to another without incurring tax consequences.
Furthermore, rollover can occur in the realm of insurance policies. To rollover an insurance policy means to transfer the accumulated cash value or benefits from one policy to another, often for more favorable terms or coverage. This allows individuals to adapt their insurance needs as circumstances change over time.
Moreover, in the automotive industry, rollover pertains to an accident scenario where a vehicle flips or overturns onto its side or roof due to factors like excessive speed, sharp turns, or collision. Vehicles with a high center of gravity, such as SUVs or buses, may have a higher risk of rollover accidents compared to lower-profile vehicles.
In general, rollover encompasses the idea of continuity, transition, or movement from one phase or condition to another, mostly involving financial or contractual arrangements.
Top Common Misspellings for ROLLOVER *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for ROLLOVER
Etymology of ROLLOVER
The word "rollover" has its etymological roots in two separate words: "roll" and "over".
The term "roll" comes from the Old English word "rollian", meaning "to rotate or turn", which can be traced back to the Proto-Germanic word "rullōną". This word has cognates in other Germanic languages like Dutch, German, and Old Norse.
The word "over" is derived from the Old English word "ofer", which has branched from the Proto-Germanic word "uberi". "Over" has also been influenced by the Old Norse word "yfir", which shares a similar meaning.
When these two words are combined, "roll" and "over", they form the compound word "rollover". The term itself suggests the action of rotating or turning something completely, implying a movement from one position to another.
Similar spelling word for ROLLOVER
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