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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!

Actual loss ratio

Insurance companies use a key metric called Loss Ratio to measure their financial performance. It reflects the proportion of claims paid out to the amount of premiums collec...

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Catastrophe

In the realm of finance, there exists a term known as "catastrophe". This term is commonly used for statistical purposes to denote a single event or a string of closely linke...

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Deductible

Understanding the concept of a deductible is essential in navigating the world of insurance. It refers to the amount of money that the policyholder is responsible for paying...

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Loss adjustment expenses

Insurance companies must account for the expenses incurred in investigating and resolving insurance claims, which also includes the costs of defending a lawsuit in court. Th...

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