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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!

Reserves

In the world of finance, a company's estimated expenditure on claims is known as its loss reserve. This reserve is an important indicator of a company's financial health and...

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Non-owned auto

A private passenger vehicle, such as an auto, pickup truck, van, or trailer, that is not owned or regularly used by the insured or any of their family members is not covered...

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Law of large numbers

Understanding the concept of probability is essential in the world of finance, particularly in the realm of insurance. In simple terms, this theory suggests that the more un...

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Pro-rata treaties

Reinsurance agreements refer to contracts where the sharing of premiums and losses is based on a predetermined ratio. This is a common practice in the insurance industry, al...

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