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Insurance

Endowment insurance

Welcome everyone, today we will be discussing the concept of life insurance. This is a type of financial protection that guarantees a payout at the end of a specified time period, as long as the insured person is still alive. In case of the unfortunate event of death before the end of the period, the predetermined amount will be paid to the beneficiary. It provides peace of mind to individuals and their loved ones by ensuring financial stability in the face of unexpected circumstances.

Replacement

Let's discuss the concept of a policy replacement, which refers to the creation of a new policy to replace an existing one. This is a common practice in the world of finance...

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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 ...

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Businessowners policy

As a professor of finance, I want to introduce you to a key term in the insurance industry: the Business Owners Policy (BOP). This type of policy combines three important c...

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Incurred but not reported losses (IBNR)

A knowledgeable professor of finance must be well-versed in the concept of "incurred but not reported" (IBNR) losses, which refers to claims that are not reported to the i...

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