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Insurance

Surety bond

In the world of finance, there exists a concept known as a surety bond. This is a legally binding agreement between three parties - the surety company, the owner or creditor, and the third party. The purpose of this bond is to ensure that the third party's obligations are fulfilled. This is especially relevant for contractors working on public projects, as they are often required to obtain a surety bond. In the event that the contractor fails to fulfill their duties, the surety company steps in and is held responsible for either completing the work or compensating for any losses up to the bond's penalty amount.

Disability income insurance

Disability insurance offers financial assistance in the form of regular payments to individuals who are unable to work due to an illness or injury. This type of insurance en...

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Voluntary coverage

As consumers, we have the power to make purchasing decisions that align with our individual needs and preferences. This same principle applies to insurance - a financial tool...

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Insurable risk

Insurance is a crucial component of financial planning, providing protection against potential risks. Some risks, however, are easier to insure than others. In order for insu...

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Participating Policy

A participating policy, often referred to as a with-profits or par policy, is a type of insurance policy that involves a higher premium compared to a non-participating polic...

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