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Insurance

Graded Premium Policy

This particular type of whole life policy caters to individuals seeking a higher level of life coverage but are unable to afford it at the moment. It involves paying a lower premium rate that gradually increases within the initial three to five years before stabilizing for the remainder of the policy's duration.

Fire

Combustion is a chemical reaction that occurs when a substance rapidly combines with oxygen, resulting in the production of heat and light. This process is often accompanied ...

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Economic loss

In the world of finance, we often come across the term "financial loss." This refers to the overall loss incurred due to the death or disability of a wage earner, or the des...

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Positive act

One common term used in the world of finance is "tort," which refers to an action that can potentially cause harm or injury to another person or their property. This term is...

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Paidup Value

In the realm of insurance, the term "paid-up value" refers to the decreased sum assured that an insurer will provide if the policyholder stops making premium payments after ...

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