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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.

Single-premium life

is called a single-premium whole life policy. A single-premium whole life policy, as its name suggests, is a type of whole life insurance where the premium is paid in one l...

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Participating Policy

A participating policy, often referred to as a with-profits or par policy, is a type of insurance policy that involves a higher premium compared to a non-participating polic...

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Surety bond

In the world of finance, there exists a concept known as a surety bond. This is a legally binding agreement between three parties - the surety company, the owner or creditor...

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Indirect loss

A professor of finance understands that in the world of risk management, there are various types of losses that can occur. One such loss is known as an indirect loss, which ...

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