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Insurance

Assignee

In case of death of the assignee, the benefits are transferred to the assignor. In the realm of finance, the assignee is the individual who receives the title, rights, and benefits associated with a life policy. It's important to understand that upon the unfortunate passing of the assignee, these benefits are then transferred back to the assignor. This concept is crucial to grasp in order to fully comprehend the dynamics of life insurance policies.

Single-premium annuity

An annuity is a financial product where the purchase price is paid in a single, upfront payment. This type of investment provides regular income payments over a specified per...

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Post-loss activities

One vital aspect in finance is reducing severity, which involves finding ways to minimize losses. A crucial tool in this is salvaging damaged property instead of discarding ...

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Reasonable expectations

The principle of reasonable expectation, an extension of the adhesion doctrine, holds that insurance coverage should be interpreted based on what the insured would reasonabl...

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Insurance plan value

In the realm of insurance, the plan value refers to the desired amount for which an individual seeks coverage through a policy. This value is determined by the policyholder ...

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