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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.

Private insurance

Private sector insurance refers to the coverage provided by companies, as opposed to government insurers. Understanding this distinction is crucial in the world of finance. ...

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Void

A policy contract may be rendered null and void if certain conditions specified within the contract are not met. For instance, if a policyholder provides false information, ...

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Physical hazard

When we talk about material characteristics, we're referring to the properties of an object that can affect its behavior or impact its surroundings. For example, a wet or ic...

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Hazards

Perils are potential events that could result in financial loss. These losses are often influenced by certain conditions that increase the likelihood of occurrence. For inst...

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