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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.

Money Back Plan

A policy that includes a provision for the policyholder to receive periodic payments equal to a portion of the total amount guaranteed....

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Primary company

Reinsurance, a common practice in the insurance industry, refers to the transfer of risk from one insurance company to another. The reinsurer, often a larger and more financ...

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Economic loss

In the world of finance, we often come across the term "financial loss." This refers to the overall loss incurred due to the death or disability of a wage earner, or the des...

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Post-loss activities

One vital aspect in finance is reducing severity, which involves finding ways to minimize losses. A crucial tool in this is salvaging damaged property instead of discarding ...

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