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Insurance

Contract of adhesion

In finance, there exists a type of contract known as an insurance contract. This specific agreement holds a crucial factor that we must pay attention to - the wording. Any vague or unclear language within this contract will be interpreted in a way that is not in favor of the drafter, in this case, the insurer. It is important to understand this concept in order to fully grasp the implications of insurance contracts.

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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Catastrophe deductible

Property insurers often require homeowners to pay a deductible before their insurance policy covers damages caused by a major natural disaster. This deductible can be either...

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Per-cause deductible

A per-incident deductible is a fee that is charged for every new illness or accidental injury. This amount is paid by the insured party before their insurance coverage kicks...

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Captive insurer

In the world of finance, there exists a unique type of insurer known as a "mutual insurer." Unlike traditional insurance companies, mutual insurers are formed and owned by t...

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