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Insurance

Lifetime maximum

Insurance plans often have a limit that applies to all benefits. This limit, also known as the maximum, can have the potential to be restored over time. This means that the insured may eventually be able to collect more than the initially stated maximum. This concept is important to understand when considering insurance plans and their potential benefits.

Insurance plan value

In the realm of insurance, the plan value refers to the desired amount for which an individual seeks coverage through a policy. This value is determined by the policyholder ...

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Void

A policy contract may be rendered null and void if certain conditions specified within the contract are not met. For instance, if a policyholder provides false information, ...

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Consequential losses

In the world of finance, there are various terms that may seem complex at first but are crucial to understand. One such term is "losses other than property damage." This ref...

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Expediting expenses

When an insurer agrees to cover the cost of expediting the repair of machinery, they are agreeing to cover any reasonable additional expenses. This can include costs for ove...

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