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Insurance

Mortgage insurance

Let's discuss a type of insurance that is specifically designed to cover the life of an individual who has taken out a mortgage. This form of insurance is known as decreasing term insurance and its purpose is to provide death benefits that can be used to pay off the remaining balance of a mortgage. As the name suggests, the coverage amount decreases as the debt decreases. However, there is also a variant of this insurance called mortgage unemployment insurance, which offers coverage for the mortgage in case the policyholder becomes involuntarily unemployed.

Hospital insurance

Understanding health insurance is crucial for managing financial risks in case of medical emergencies. An insurance contract covers hospital room and board, laboratory fees,...

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Exposure doctrine

One must be familiar with the concept of liability limit, which protects individuals in case they are exposed to hazardous substances or products. It is important to underst...

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Critical Illness Rider

Life insurance policies offer a critical illness rider as a safeguard against unexpected financial burdens caused by a terminal illness. This rider provides the insured with...

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Total disability

Disability, whether caused by illness or injury, refers to a state in which an individual is unable to engage in any form of work that generates income. This can be a tempor...

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