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Insurance

Endowment Plan

In the world of finance, there exists a concept known as a life insurance policy. This is a carefully crafted agreement between a policyholder and an insurance company, where the former pays a certain amount of money in exchange for financial protection. In the event that the policyholder passes away before the policy matures, the predetermined sum is paid out to their designated beneficiary. However, if the policyholder lives beyond the contract's tenure, they will receive the payout themselves. This type of plan provides both peace of mind and financial security for individuals and their loved ones.

Benefit Period

Insurance coverage duration refers to the period of time during which an insurance company provides benefits to the designated insured or their dependents. It is essential fo...

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Requisites of insurable risks

As we delve into the realm of insurance, it's crucial to understand the perspective of both the insurer and the insured. For the insurer, a critical factor is the presence o...

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Apportionment

In the world of finance, there exists a concept known as "pro rata", which refers to the division of a loss among multiple insurers who have covered the same loss. This is a...

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Severity

is the size of a loss. When assessing insurance premiums, one crucial factor to consider is the size of potential losses. This refers to the magnitude of financial damages t...

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