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Insurance

Involuntary coverage

In finance, there exists a concept known as 'mandatory insurance'. This pertains to the government's requirement for specific groups or individuals to purchase insurance under certain circumstances. This insurance serves as a safety net, providing financial protection in case of unforeseen events. It is crucial for individuals to understand their obligations and the benefits of such insurance, as it can greatly impact their financial well-being. Let us explore this topic further.

Auto insurance premium

Insurance premiums depend on the likelihood and expense of potential risks, determining the amount an insurer charges for coverage. These risks encompass a range of events, ...

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Express warranty

Contracts often include a warranty, which is a promise that a product or service meets certain standards. This warranty is a legally binding agreement between parties and sp...

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Cash value

Life insurance policies often include a savings component, known as the cash value. This is the amount of money that is accumulated over time through regular premium payment...

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Flood

As a finance professor, it's important to understand the terminology associated with natural disasters that can impact financial systems. These include (1) inland or tidal w...

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