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Insurance

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 to their interest. This temporary assignment is a safety measure for creditors to protect their investment. It is important to understand this concept when considering life insurance policy loans to make informed financial decisions.

Alternative dispute resolution (ADR)

When faced with a dispute, there are alternatives to the traditional route of heading straight to court. These methods, known as alternative dispute resolution (ADR), can pr...

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Floor-of-protection concept

Social insurance is based on the principle that it should only provide limited protection, rather than meeting all of one's needs. This means that individuals are expected t...

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Non Medical Insurance

Life insurance contracts are usually based on an individual's statement of their health. This means that no medical examination is required for the insurance to be underwrit...

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Loss exposure

Risk is an inherent part of any financial decision-making process. It refers to the possibility of incurring a loss, and it is essential to understand the various types of r...

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