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Insurance

War hazard exclusion

Insurance coverage for death caused by war or hostile action is not included in this policy. This means that if a person dies as a result of these circumstances, their loved ones will not receive any financial compensation from the insurance company. It is important to understand this exclusion and consider alternative means of protection in such situations.

Pure premium

In the realm of insurance, there exists a concept known as the "basic loss ratio." This refers to the portion of an insurance premium that is purely representative of the co...

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Pro-rata clause

The prorata clause, a common insurance term, establishes an agreement among insurers to evenly distribute losses based on the proportion of their coverage to the total cover...

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Gross premium

Insurance premiums are the fees charged by an insurance company to provide coverage for potential losses, as well as overhead costs and profit. These premiums are calculated ...

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Decreasing term

Let's delve into the world of insurance and focus on an interesting term - "decreasing term life insurance". This type of insurance offers a coverage that gradually decreas...

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