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DEFINITION of 'Blanket Bond'. Insurance coverage carried by brokerages, investment bankers, and other financial institutions to protect them against losses due to employee dishonesty. Next Up. Examples of things that a blanket bond might cover are forged checks, counterfeit currency, fraudulent trading, and property damage.
DEFINITION of 'Insurance Bond'. An investment instrument that is offered by life insurance companies. The investment is provided in the form of a single premium life insurance policy. These bonds are often used as investments in the U.K. and other countries.Also known as an investment bond.REAKING DOWN 'Insurance Bond'. Insurance bonds are very simple investments that allow investors to save for the long term. Investors who hold their bonds for more than 10 years without making any withdrawals in that time are able to receive their earnings tax free.