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Insurance

Additional insureds

As we delve into the world of finance, it is crucial to understand the concept of insurable interest. This refers to individuals who have a stake in the property or person covered by an insurance policy. These individuals are protected against the specific losses outlined in the policy. However, it is important to note that they typically receive less coverage than the primary named insured. Let's explore this further to gain a better understanding.

Activities of daily living

Long-term care insurance policies often include specific activities that must be impeded in order for the policyholder to receive payment. These activities, including eating...

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Incontestability clause

A valuable aspect of life insurance is the incontestability clause. This provision prohibits the insurer from denying liability after two years for misrepresentations or con...

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Noncancellable

A non-cancelable policy is a type of insurance that cannot be terminated by the insurer until a specific age is reached. In other words, the policy remains in force as long ...

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Total loss

When an automobile or other property suffers damage to such an extent that the cost of repairing it exceeds its value, we refer to this as a total loss. This can occur due t...

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