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Insurance

Life Assured

It is the basic concept of life insurance. Life assured is a term that refers to the individual whose life is being insured through a life insurance policy. This fundamental concept lies at the core of understanding life insurance. It is crucial to recognize that the life assured is the person whose life is being financially protected in the event of their death. In simpler terms, they are the beneficiary of the life insurance policy. This understanding is essential in comprehending the various aspects of life insurance and its significance in financial planning.

Reserves

In the world of finance, a company's estimated expenditure on claims is known as its loss reserve. This reserve is an important indicator of a company's financial health and...

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Substandard Risk

An individual with physical conditions, a family or personal history of disease, or engaging in risky habits may be deemed an under-average or impaired insurance risk. This ...

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Dynamic risks

One of the fundamental concepts in finance is the idea of risk. It refers to the uncertainties that arise due to changes in the world around us. Whether these risks are pure...

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Multiple peril policy

A package policy, commonly known as a homeowners or business insurance policy, offers protection against various perils. This type of policy combines both property and liabi...

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