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Insurance

Cost-of-living rider

An endorsement is a change or addition to an insurance policy that modifies the coverage or terms of the original policy. One type of endorsement that may be relevant in the world of finance is the CPI endorsement. This endorsement automatically increases the amount of coverage by the same percentage that the Consumer Price Index (CPI) has risen since the policy was issued. Essentially, this means that the policy will keep up with inflation and provide adequate coverage over time. It's important for individuals to understand the various endorsements available and how they can impact their insurance coverage.

Accidental death benefit

A beneficiary can receive an additional benefit if the insured passes away due to an accident through an endorsement. This is a form of insurance that provides an extra laye...

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Social insurance

Publicly operated insurance plans are commonly mandatory and provide coverage for individuals. These plans are often established by government agencies and can vary in terms...

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Deferment date

The expiration date signifies the conclusion of the deferment period. This is a crucial term in the world of finance, as it determines the end date for a grace period in whi...

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Post-loss activities

One vital aspect in finance is reducing severity, which involves finding ways to minimize losses. A crucial tool in this is salvaging damaged property instead of discarding ...

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