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Insurance

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 liability coverage into one comprehensive plan. In simpler terms, it offers a one-stop solution for insurance needs, making it a convenient and cost-effective option for individuals and businesses alike. As we delve deeper into the world of finance, understanding the concept of package policies will prove to be a valuable asset.

Principal

In the realm of finance, we often come across the term 'principal.' Now, the principal is not just the head of a school, but it also refers to the obligor or the individual ...

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After Tax Rupees

Discretionary income, as defined by the Income Tax Act, is the remaining income a policy holder has after taxes have been paid for a specific financial year. It is the amoun...

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Concurrent loss control

In the world of finance, there is a term known as "mitigation" which refers to the actions taken to minimize the impact of a loss. This can include activities that occur sim...

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Collateral

Life insurance policy loans are a common financing option, where the policy acts as collateral. If the borrower defaults, the lender can only recover the amount equivalent t...

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