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Insurance

Life Assured

It is the basic concept of life insurance. Life assured is a term that refers to the individual whose life is being insured through a life insurance policy. This fundamental concept lies at the core of understanding life insurance. It is crucial to recognize that the life assured is the person whose life is being financially protected in the event of their death. In simpler terms, they are the beneficiary of the life insurance policy. This understanding is essential in comprehending the various aspects of life insurance and its significance in financial planning.

Cost of risk

Risk management is the process of identifying, evaluating, and mitigating potential risks in a financial context. This includes the costs associated with risk reduction effo...

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Package policy

"As we delve into the world of finance, it is important to understand the concept of bundled insurance policies. This involves merging various coverages that were once avail...

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Proximate cause

Loss causation is a fundamental concept in finance, referring to the direct cause of a financial loss. It occurs when there is a clear and unbroken chain of events linking a...

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Positive act

One common term used in the world of finance is "tort," which refers to an action that can potentially cause harm or injury to another person or their property. This term is...

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