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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.

Concurrent loss control

In the world of finance, there is a term known as "mitigation" which refers to the actions taken to minimize the impact of a loss. This can include activities that occur sim...

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Mortgage clause

In insurance contracts, there exists a clause which grants the mortgagor of a property the first right of recovery. This essentially means that in the event of a claim, the ...

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Social insurance

Publicly operated insurance plans are commonly mandatory and provide coverage for individuals. These plans are often established by government agencies and can vary in terms...

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Contingent Beneficiary

In finance, we often come across the term "secondary beneficiary" or "tertiary beneficiary". These are individuals who are designated to receive the proceeds of a financial ...

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