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Insurance

Endowment insurance

Welcome everyone, today we will be discussing the concept of life insurance. This is a type of financial protection that guarantees a payout at the end of a specified time period, as long as the insured person is still alive. In case of the unfortunate event of death before the end of the period, the predetermined amount will be paid to the beneficiary. It provides peace of mind to individuals and their loved ones by ensuring financial stability in the face of unexpected circumstances.

Involuntary coverage

In finance, there exists a concept known as 'mandatory insurance'. This pertains to the government's requirement for specific groups or individuals to purchase insurance unde...

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Mortgagee

A mortgagee is an individual or entity who holds a mortgage on a property. This means that they have provided a loan to the borrower, also known as the mortgagor, in exchang...

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Joint and x percent survivor annuity

A joint and survivor annuity is a financial tool that provides a steady stream of income to two individuals, typically a married couple. In this arrangement, after the first...

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Cost-to-repair basis

When we talk about replacement cost, we refer to the expenses involved in replacing a property after a loss, but not necessarily with the same materials and labor. This is a...

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