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Insurance

Renewal Premiums

In the realm of finance, we often come across the term 'premiums'. These are payments that are made towards an insurance policy, and they can be of different types. One type is known as 'continuous premiums'. These are payments that are made after the initial premium and are necessary for the policy to remain active. In other words, they are a condition for the continuation of the policy. Let's dive into this concept further.

Peril

Insurance policies can be categorized as either named-peril or all-risk. A named-peril policy provides coverage for specific risks, such as fire, windstorm, flood, or theft....

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Surrender or Cash Value

When a policy is terminated prematurely, the amount that the policyholder is entitled to receive is known as the surrender value. This value is paid out if the policyholder...

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Life Expectancy Tables

Mortality tables are an important tool in finance that helps us determine life expectancy. These tables provide statistical data about the likelihood of a person reaching a ...

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Loss costs

Insurance rates are composed of two main parts: the portion that covers claims and the costs of adjusting those claims. To determine these rates, insurance companies forecas...

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