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Insurance

Insurance proceeds

A significant amount of money that is given to either the policyholder or their chosen recipient upon the policyholder's death within the specified term of the plan or when the plan reaches its maturity date. This lump sum is an essential aspect of life insurance and can provide financial security for loved ones in the event of the policyholder's passing. It is crucial to understand this concept when considering life insurance options.

Large-loss principle

When it comes to purchasing insurance, it is important to prioritize your coverage for serious loss exposures over less serious ones. This rule ensures that you are adequate...

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Risk Selection

An integral aspect of the insurance industry is the process of underwriting, which involves evaluating and selecting applicants that meet the criteria set by the company. Th...

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Integrated risk management

One effective approach for handling both pure and speculative risks simultaneously is through the practice of enterprise risk management. This strategy involves identifying,...

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Vandalism

Vandalism is a term used to describe the intentional destruction or damage of someone else's property. This can take many forms, from graffiti on walls to breaking windows o...

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