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Insurance

Accident & Accidental Death Benefit

This includes accidents caused by external, violent, and visible means. As we delve into the world of life insurance, it is important to understand the concept of accident or accidental death. It refers to an unexpected and abrupt event that leads to disability or death of the policyholder. This encompasses accidents caused by external factors, such as violence, as well as those that are visible to the naked eye. In simpler terms, it covers any unfortunate incident that is sudden and unforeseen.

Pooling

of investors is known as pro rata Pro rata refers to the practice of distributing total losses among a group of investors. This is done in proportion to each investor's sta...

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Economic loss

In the world of finance, we often come across the term "financial loss." This refers to the overall loss incurred due to the death or disability of a wage earner, or the des...

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Arson

in order to collect insurance money is known as arson, and is considered a criminal act. The amount of insurance fraud related to arson has been estimated to be in the billio...

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Insured

In life insurance, the insured refers to the individual who is protected by the insurance policy. In the event of the insured's passing, the insurance company would provide ...

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