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Insurance

Floor-of-protection concept

Social insurance is based on the principle that it should only provide limited protection, rather than meeting all of one's needs. This means that individuals are expected to supplement their social insurance benefits with their own resources. The purpose of social insurance is to provide a safety net, rather than fully supporting individuals. This principle is important to understand when considering the role of social insurance in financial planning.

Expected loss ratio

As we delve into the world of finance, one concept that holds a significant place is the Loss Ratio. This is the measure of losses incurred in relation to premiums earned, a...

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Professional liability

Professional liability is a legal term used to describe the responsibility that a professional person holds for any mistakes made while carrying out their duties. This can i...

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Intestacy laws

Estate planning is a crucial aspect of financial management that involves determining how one's assets will be distributed after their passing. In cases where a will is not ...

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Insurance plan value

In the realm of insurance, the plan value refers to the desired amount for which an individual seeks coverage through a policy. This value is determined by the policyholder ...

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