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Insurance

Vesting Bonus

One important term in the field of finance is bonus. This is a term used by insurers to refer to the additional amount that is given to the policyholder. It is calculated after assessing the company's assets and liabilities. This bonus is then added to the original sum assured stated in the policy.

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. ...

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Fronting

Insurance can be a complex world, with various terms and concepts to navigate. One such term is fronting, a practice where a primary insurer issues a policy but transfers th...

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Loss of use

Homeowners and renters insurance policies often include a valuable provision that covers the costs of temporary living arrangements in the event of a disaster. This means tha...

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Revocable beneficiary

A beneficiary designation in life insurance is a crucial aspect that can be altered by the policy owner. This allows the policy owner to designate a specific individual or e...

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