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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.

Concurrent causation

In the realm of insurance, there exists a legal principle known as "concurrent causation." Simply put, this doctrine states that in the event of a loss caused by two perils,...

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Insuring agreement

Insurance policies have a crucial component called the insuring agreement. This section outlines the responsibilities of the insurer and the terms under which they are bound ...

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Maximum possible loss

In finance, we often use the term "maximum potential loss" to refer to the most extreme outcome that could arise from a particular event. This could be a financial loss, suc...

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Ancillary charges

In the realm of hospital insurance, there exists a concept known as "ancillary charges." These are expenses that are covered by the insurance policy, in addition to the cost...

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