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Insurance

Collateral

Life insurance policy loans are a common financing option, where the policy acts as collateral. If the borrower defaults, the lender can only recover the amount equivalent to their interest. This temporary assignment is a safety measure for creditors to protect their investment. It is important to understand this concept when considering life insurance policy loans to make informed financial decisions.

Personal coverages

Income protection insurance is a type of insurance that safeguards against potential interruptions in an individual's income caused by unexpected events. It provides financi...

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Life insurance

When it comes to insurance, there are three main types to consider: ordinary life insurance, term insurance, and whole life insurance. Ordinary life insurance provides cover...

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Earnings multiple approach

A commonly used term in employee benefits, a group life plan provides an employee with a predetermined amount of life insurance coverage, typically one or two times their a...

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Insured pension plans

An insurance company is responsible for managing employee benefit plans, which are designed to provide financial security to employees. These plans offer a variety of benefi...

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