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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.

Equal shares

In the world of insurance, there exists a method of apportionment known as pro rata. This method involves the distribution of a loss among multiple insurers who have provide...

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Bonus

The bonus, also known as the policyholder's dividend, is an additional sum that is received during the term of an insurance plan or at its maturity. This is only granted if ...

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Objective risk

One of the key terms in finance is 'variance', which refers to the difference between the actual and expected outcomes. This concept is crucial as it helps us understand the...

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Insured

In life insurance, the insured refers to the individual who is protected by the insurance policy. In the event of the insured's passing, the insurance company would provide ...

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