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Ordinary Life policy

A whole life insurance policy is a type of coverage that requires the insured to pay premiums throughout their lifetime. This means that as long as the individual remains alive, they must continue to make payments towards their policy. This ensures that the policy will remain active and provide financial protection to the insured's beneficiaries. It is important to carefully consider the terms and conditions of a whole life insurance policy before making any commitments.

Actual loss ratio

Insurance companies use a key metric called Loss Ratio to measure their financial performance. It reflects the proportion of claims paid out to the amount of premiums collec...

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Chance of loss

Loss frequency refers to the likelihood of a loss occurring in the long term. It can be measured by comparing the number of expected losses to the total number of potential ...

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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...

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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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