Hip Glossary: Bardo
Bardo:
Used somewhat loosely, the term "bardo" refers to the state of existence intermediate between two lives on earth. According to Tibetan tradition, after death and before one’s next birth, when one’s consciousness is not connected with a physical body, one experiences a variety of phenomena. These usually follow a particular sequence of degeneration from, just after death, the clearest experiences of reality of which one is spiritually capable, to, later on, terrifying hallucinations arising from the impulses of one’s previous unskilful actions. For the spiritually advanced the bardo offers a state of great opportunity for liberation, since transcendental insight may arise with the direct experience of reality, while for others it can become a place of danger as the karmically created hallucinations can impel one into a less than desirable rebirth.
Source: Wikipedia