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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.

Convertible

A convertible term policy is a type of insurance that offers the option to transition to permanent coverage, rather than terminating on a specific date. This allows policyho...

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Speculative risk

As a seasoned professor of finance, I would like to discuss the concept of risk with you. In simple terms, risk refers to the possibility of experiencing either a gain or a ...

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Aggregate deductible

One important term to understand in the world of finance is the annual aggregate deductible. This type of deductible requires the insured to cover all losses for the entire ...

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Mortality Cost

Life insurance premiums are determined by various factors, the foremost being the mortality rate of individuals at different ages. Insurers rely on mortality tables to estim...

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