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Insurance

Lifetime maximum

Insurance plans often have a limit that applies to all benefits. This limit, also known as the maximum, can have the potential to be restored over time. This means that the insured may eventually be able to collect more than the initially stated maximum. This concept is important to understand when considering insurance plans and their potential benefits.

Diminution of value

One concept in finance that is often overlooked is the notion of depreciation. It refers to the decrease in value of an asset, such as a vehicle, after it has been damaged a...

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Risk mapping (risk profiling)

Risk identification and assessment involves organizing all potential risks into a matrix that considers their frequency, severity, and current insurance coverage. This metho...

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Slander

Gossip, slander, and libel are all examples of spoken words that can harm someone's reputation. These types of statements can lead to legal consequences and damage an indivi...

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Surrender or Cash Value

When a policy is terminated prematurely, the amount that the policyholder is entitled to receive is known as the surrender value. This value is paid out if the policyholder...

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