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Insurance

Premium Waiver Benefit(PWB)

Premium waiver benefits refer to the benefits that can be obtained through a policy where the future premiums, up until the vesting date, are waived in case of the proposer's demise. This provision allows the policyholder's family to continue receiving the policy's benefits, even after the policyholder's death. This feature offers financial security and peace of mind to the policyholder and their loved ones. It is a valuable aspect to consider when choosing a life insurance policy.

Apportionment

In the world of finance, there exists a concept known as "pro rata", which refers to the division of a loss among multiple insurers who have covered the same loss. This is a...

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Automatic treaty

Reinsurance is a crucial concept in the world of finance. It refers to a contractual agreement between a ceding company and a reinsurer, where the former agrees to transfer ...

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Professional liability

Professional liability is a legal term used to describe the responsibility that a professional person holds for any mistakes made while carrying out their duties. This can i...

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Medical payments insurance

Insurance is a contractual agreement between an insurer and the insured, in which the insurer provides financial protection against potential losses. One type of coverage is...

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