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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.

Straight life annuity

An irrevocable life annuity is a financial arrangement where the annuitant receives a fixed income for the rest of their life, without any provision for a refund to beneficia...

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Catastrophe

In the realm of finance, there exists a term known as "catastrophe". This term is commonly used for statistical purposes to denote a single event or a string of closely linke...

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Suicide clause

Life insurance contracts often include a provision known as the suicide clause, which states that the insurer must still pay out the policy's benefits in the event of the in...

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Fire

Combustion is a chemical reaction that occurs when a substance rapidly combines with oxygen, resulting in the production of heat and light. This process is often accompanied ...

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