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Insurance

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 decreases over the period of time for which it is valid. This means that as time goes by, the coverage amount decreases accordingly. But why would someone opt for this type of insurance? Let's find out!

Income tax Liability

Income tax is a direct tax that individuals are required to pay based on their income for a given fiscal year. This tax is governed by the Income Tax Act of 1962 and is an i...

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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 t...

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Diminution of value

One concept in finance that is often overlooked is the notion of depreciation. It refers to the decrease in value of an asset, such as a vehicle, after it has been damaged a...

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Risk retention

Risk management involves making strategic decisions on how to handle risk. One approach is to bear the consequences of risk, rather than trying to avoid or transfer it. This...

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