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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.

Guaranteed Insurability (guaranteed issue)

As a professor of finance, I would like to discuss the concept of rider-provided arrangements that allow for the purchase of additional insurance at different points in time...

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Term Insurance Rider

A life insurance policy can come with an endorsement or attachment that offers extra term coverage for a designated amount. In the unfortunate event of the insured's death du...

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Survivorship benefit

When an annuitant passes away, the remaining funds from their annuity become available for distribution to the living annuitants. This is known as the death benefit. It is a...

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Elimination period

The waiting period, also known as the elimination period, is a crucial concept in health insurance policies that provide coverage for disability income loss. It refers to th...

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