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Insurance

Mortgage insurance

Let's discuss a type of insurance that is specifically designed to cover the life of an individual who has taken out a mortgage. This form of insurance is known as decreasing term insurance and its purpose is to provide death benefits that can be used to pay off the remaining balance of a mortgage. As the name suggests, the coverage amount decreases as the debt decreases. However, there is also a variant of this insurance called mortgage unemployment insurance, which offers coverage for the mortgage in case the policyholder becomes involuntarily unemployed.

Conditional contract

A fundamental concept in finance is the idea of a contract, where one party agrees to perform certain actions in exchange for another party's compensation. This is particula...

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Kidnap/ransom insurance

As students of finance, it's important to familiarize ourselves with the concept of coverage for ransom and extortion payments, along with related expenses. This type of ins...

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Rental value

Loss of rent insurance, also known as consequential coverage, is a type of insurance that protects against the loss of rental income in case the insured property is destroye...

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Respondeat superior

In the world of finance, there exists a legal principle known as "vicarious liability" that holds a principal accountable for the actions of their agent. This means that the...

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