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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.

Schedule

In the world of finance, we often come across the term "schedule of benefits." This refers to a detailed breakdown of the various components that make up a policy or plan. I...

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Risk management policy

A financial strategy is a carefully designed plan that outlines the steps and guidelines to ensure consistent and effective actions over a certain period of time. It is cruc...

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Convertible

A convertible term policy is a type of insurance that offers the option to transition to permanent coverage, rather than terminating on a specific date. This allows policyho...

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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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