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Insurance

Occurrence policy

A type of insurance that covers expenses for occurrences that happen within a specific period, regardless of when the claims are made. This policy provides financial protection for unforeseen incidents that may arise in the future. It ensures that the policyholder is not liable for costs associated with these events, even if they take place years after the policy has expired. This type of coverage is valuable for individuals and businesses alike, as it offers peace of mind and safeguards against potential financial burdens.

Elimination period

The waiting period, also known as the elimination period, is a crucial concept in health insurance policies that provide coverage for disability income loss. It refers to th...

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Expiry

Let's talk about the concept of policy termination in finance. As a knowledgeable professor, I want to make sure you understand the importance of this term. Policy terminati...

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Professional liability

Professional liability is a legal term used to describe the responsibility that a professional person holds for any mistakes made while carrying out their duties. This can i...

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Renewable term

Let's talk about life insurance policies. These are contracts that provide financial coverage to the beneficiaries of a policyholder upon their death. One type of life insur...

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