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Insurance

Bonus

The bonus, also known as the policyholder's dividend, is an additional sum that is received during the term of an insurance plan or at its maturity. This is only granted if the policyholder has paid all premium amounts for a specified minimum number of years. Essentially, the bonus is an added amount to the basic sum assured in a with-profit life insurance policy.

Product liability insurance

Product liability refers to the legal responsibility that manufacturers and distributors have towards consumers who suffer bodily injury or property damage due to their prod...

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Collateral

Life insurance policy loans are a common financing option, where the policy acts as collateral. If the borrower defaults, the lender can only recover the amount equivalent t...

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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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Premature death

The concept of premature death refers to an untimely passing before it is deemed socially acceptable as a natural occurrence in the cycle of life. This can be a tragic and d...

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