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Insurance

Catastrophe model

In the world of finance, there exists a powerful tool that utilizes technology to predict the potential financial impact of natural disasters and other catastrophic events in a specific location. This method involves combining long-term disaster data with current demographic and building information in order to accurately assess the potential cost of such events. By meshing these various factors, we are able to gain valuable insights and make informed decisions when it comes to managing and mitigating financial risk.

Severity

is the size of a loss. When assessing insurance premiums, one crucial factor to consider is the size of potential losses. This refers to the magnitude of financial damages 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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Tertiary Beneficiary

When it comes to life insurance, it's important to understand the concept of a third beneficiary. This is the individual who is next in line to receive the benefits if the p...

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Annual-premium annuity

Let's discuss the concept of a deferred annuity, which involves paying the purchase price in yearly installments. This financial instrument allows for future payments to be ...

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