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Insurance

Decreasing term

Let's delve into the world of insurance and focus on an interesting term - "decreasing term life insurance". This type of insurance offers a coverage that gradually decreases over the period of time for which it is valid. This means that as time goes by, the coverage amount decreases accordingly. But why would someone opt for this type of insurance? Let's find out!

Near Birth Day(n.b.d)

refers to the age of a person in terms of the number of years, rounded to the nearest whole number, since their last birthday. This is important when calculating financial pl...

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Non-participating policy

A non-participating policy, also referred to as a without-profit or non-par policy, is a type of life insurance where the policy owner does not receive any share of the divi...

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Non-Standard Life

A Non-Standard Life refers to an individual who is unable to obtain a policy at the standard rate of premiums, but can be granted a policy at an additional premium over the ...

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Mortality table

The mortality table is a valuable tool used in the world of finance to determine the likelihood of death at different ages. It presents the number of deaths per thousand ind...

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