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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.

Options

In the world of finance, there exists a type of contract that grants individuals the option to buy or sell assets at a predetermined price and time. These contracts, known a...

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Unilateral contract

A legal agreement, like an insurance contract, where one party is obligated to fulfill promises that are legally binding. This type of contract is known as a unilateral cont...

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Risk Selection

An integral aspect of the insurance industry is the process of underwriting, which involves evaluating and selecting applicants that meet the criteria set by the company. Th...

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Promissory warranty

This is known as a guarantee. A guarantee is a contractual agreement that guarantees the truthfulness of a condition, fact, or circumstance throughout the duration of the c...

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