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Insurance

Floor-of-protection concept

Social insurance is based on the principle that it should only provide limited protection, rather than meeting all of one's needs. This means that individuals are expected to supplement their social insurance benefits with their own resources. The purpose of social insurance is to provide a safety net, rather than fully supporting individuals. This principle is important to understand when considering the role of social insurance in financial planning.

Annuity Consideration

An annuity is a financial product that provides a stream of fixed payments to the annuitant, typically in retirement. The premium is the amount of money that the annuitant p...

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Risk retention

Risk management involves making strategic decisions on how to handle risk. One approach is to bear the consequences of risk, rather than trying to avoid or transfer it. This...

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Shortage

A crucial concept in finance is the notion of a deficit, which arises when a family is left with insufficient funds following the passing of the policyholder. This occurs whe...

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Financial statement analysis

Risk identification is a crucial aspect of financial management. One effective method is to thoroughly examine every entry on a company's balance sheet and income statement ...

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