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Insurance

Guaranteed Addition

Guaranteed additions, a key concept in finance, are calculated by multiplying a predetermined rate with the sum assured. These additions are then added to the basic sum assured and are paid out upon the approval of a claim. This valuable benefit is only applicable for the years in which premiums are paid. It is a crucial element to consider when making financial decisions.

Substandard Risk

An individual with physical conditions, a family or personal history of disease, or engaging in risky habits may be deemed an under-average or impaired insurance risk. This ...

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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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Underinsurance

As we delve into the area of insurance, it is important to understand the concept of underinsurance. This refers to the situation where a policyholder has not purchased enou...

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Boiler and machinery insurance

Equipment Breakdown insurance, also known as Systems Breakdown insurance, is a crucial element of commercial insurance. It offers protection against damage caused by the mal...

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