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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.

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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Cost of risk

Risk management is the process of identifying, evaluating, and mitigating potential risks in a financial context. This includes the costs associated with risk reduction effo...

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Constructive total loss

A common term used in the world of finance is "economic loss." This refers to a situation where property has not been completely destroyed, but the cost of restoring it exce...

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Involuntary coverage

In finance, there exists a concept known as 'mandatory insurance'. This pertains to the government's requirement for specific groups or individuals to purchase insurance unde...

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