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Ordinary Life policy

A whole life insurance policy is a type of coverage that requires the insured to pay premiums throughout their lifetime. This means that as long as the individual remains alive, they must continue to make payments towards their policy. This ensures that the policy will remain active and provide financial protection to the insured's beneficiaries. It is important to carefully consider the terms and conditions of a whole life insurance policy before making any commitments.

Aleatory contract

An aleatory contract is a binding agreement in which the outcome is determined by an uncertain event. This type of contract is commonly used in the insurance industry, where...

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Actuarial Cost Method

One essential tool in the realm of finance is the method used to calculate contributions within an insurance plan. This provides a comprehensive understanding of the financi...

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Representation

One of the key factors in determining an insurance contract is the statement made by the applicant before the agreement is finalized. This statement can greatly impact the i...

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Replacement

Let's discuss the concept of a policy replacement, which refers to the creation of a new policy to replace an existing one. This is a common practice in the world of finance...

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