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Insurance

Probate

Probate is a legal procedure that occurs upon the passing of an individual, in which their assets are distributed and the instructions outlined in their will are executed. This process involves verifying the validity of the will, settling any outstanding debts, and distributing the remaining assets to the designated beneficiaries. It is a crucial aspect of estate planning and should be carefully considered to ensure one's final wishes are fulfilled. Now, let's delve deeper into the intricacies of probate and its implications on personal finance.

Rider

An addendum, also known as an attachment, is a crucial element of an insurance policy that modifies its coverage or terms. This document is often overlooked but holds great i...

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Captives

An insurer may be formed by non-insurers to offer insurance coverage to its owners. This is known as self-insurance and is common in the finance industry. The purpose of sel...

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Annuity units

An essential metric utilized in the assessment of a variable annuity while it is being distributed to the recipient. The value of each unit is subject to change in accordanc...

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Unfunded retention

One concept in finance that is important to understand is the idea of absorbing losses. This means that instead of planning ahead to cover any potential losses, they are dea...

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