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Insurance

Premium Flexibility

Universal life insurance policies offer policy-holders the flexibility to adjust their monthly premium payments. This means that individuals can increase or decrease the amount they pay each month, depending on their financial situation. This feature allows policy-holders to have control over their policy and make changes as needed. It also provides the opportunity to adapt to any changes in their income or expenses, making universal life policies a versatile option for long-term financial planning.

Premises

In the world of finance, the term "specified location" refers to the specific area of a property that is outlined in an insurance policy. This designated area serves as a cr...

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Last Birth Day (l.b.d)

Age at last birthday refers to the age of an individual at their most recent birthday. This term is commonly used in finance to calculate an individual's age for various pur...

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Deferment period

The duration between the initiation of a policy and the date of its maturity is known as the accumulation period. During this time, the policyholder makes regular contributi...

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Aggregate deductible

One important term to understand in the world of finance is the annual aggregate deductible. This type of deductible requires the insured to cover all losses for the entire ...

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