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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.

War hazard exclusion

Insurance coverage for death caused by war or hostile action is not included in this policy. This means that if a person dies as a result of these circumstances, their loved...

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Income tax Liability

Income tax is a direct tax that individuals are required to pay based on their income for a given fiscal year. This tax is governed by the Income Tax Act of 1962 and is an i...

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Defensive medicine

In the field of finance, there is a term commonly known as "defensive medicine". This refers to the practice of conducting additional procedures and tests for a patient, bey...

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Large-loss principle

When it comes to purchasing insurance, it is important to prioritize your coverage for serious loss exposures over less serious ones. This rule ensures that you are adequate...

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