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Insurance

Endowment Plan

In the world of finance, there exists a concept known as a life insurance policy. This is a carefully crafted agreement between a policyholder and an insurance company, where the former pays a certain amount of money in exchange for financial protection. In the event that the policyholder passes away before the policy matures, the predetermined sum is paid out to their designated beneficiary. However, if the policyholder lives beyond the contract's tenure, they will receive the payout themselves. This type of plan provides both peace of mind and financial security for individuals and their loved ones.

Loss ratio

As an expert in finance, it is crucial to understand the concept of "loss ratio," which refers to the percentage of each premium rupee that an insurer spends on claims. This...

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Fair rental value

A crucial aspect of dwelling policies is the concept of potential rental income, which refers to the amount a building could have earned at the time of a loss, regardless of...

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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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All-risk agreement

When discussing property or liability insurance contracts, it's important to understand that there are two types: named perils and open perils. A named perils policy only co...

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