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Insurance

Assignee

In case of death of the assignee, the benefits are transferred to the assignor. In the realm of finance, the assignee is the individual who receives the title, rights, and benefits associated with a life policy. It's important to understand that upon the unfortunate passing of the assignee, these benefits are then transferred back to the assignor. This concept is crucial to grasp in order to fully comprehend the dynamics of life insurance policies.

Chief risk officer (CRO)

The term "Chief Risk Officer" refers to a vital role in many companies, responsible for overseeing the implementation of a comprehensive risk management plan. This position ...

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Accumulation Period

The period of time between the initiation of a policy and the point at which benefits are disbursed is known as the waiting period. This duration is determined by the indivi...

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Contingent Beneficiary

In finance, we often come across the term "secondary beneficiary" or "tertiary beneficiary". These are individuals who are designated to receive the proceeds of a financial ...

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Premium option

When a person enters into an agreement with an insurance company, they make regular payments, also known as premiums. These premiums are made in order to receive a lump sum ...

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