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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.

Insurable value

When discussing business income coverage, it's important to understand the concept of net income. This is the amount that remains after subtracting variable costs and expens...

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Risk reduction

Uncertainty reduction refers to the reduction of overall ambiguity in a given scenario. This can be achieved through various means, such as gathering more information, utili...

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Express warranty

Contracts often include a warranty, which is a promise that a product or service meets certain standards. This warranty is a legally binding agreement between parties and sp...

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Bind

An important concept in property and liability insurance is the authority given to agents to accept offers from potential insured individuals without consulting the insurer....

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