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Mortality Charge

When considering a life insurance policy, it is important to understand the concept of pure insurance protection. This refers to the cost associated with insuring against the risk of death. The charge for this protection will vary based on factors such as age, health, and the amount of coverage. It is essential to carefully consider this element when selecting a life insurance policy that best fits your needs.

Primary company

Reinsurance, a common practice in the insurance industry, refers to the transfer of risk from one insurance company to another. The reinsurer, often a larger and more financ...

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Contractual liability

As an expert in finance, it is crucial to understand the concept of liability in contractual agreements. These agreements outline the responsibility of specific parties to b...

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Misstatement-of-age clause

Life insurance policies often contain a provision known as the misstatement of age clause. This clause allows for a change in the amount of insurance that will be paid out i...

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Accumulation Period

The period of time between the initiation of a policy and the point at which benefits are disbursed is known as the waiting period. This duration is determined by the indivi...

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