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Insurance

Graded Premium Policy

This particular type of whole life policy caters to individuals seeking a higher level of life coverage but are unable to afford it at the moment. It involves paying a lower premium rate that gradually increases within the initial three to five years before stabilizing for the remainder of the policy's duration.

Assignor

In the world of finance, an assignor is an individual who holds a policy and decides to transfer the ownership, benefits, and rights of said policy to another person. This t...

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Degree of risk

The relative variation of actual from expected losses is a measure used in finance to assess the accuracy of loss predictions. This metric takes into account the difference ...

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Insurance rate

Insurance price is the cost of insurance, typically stated as a price per unit of coverage. This means the amount you pay for insurance is directly related to the amount of ...

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Gross premium

Insurance premiums are the fees charged by an insurance company to provide coverage for potential losses, as well as overhead costs and profit. These premiums are calculated ...

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