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Insurance

Premiums in force

Life insurance policies that are still in effect at a specific moment are referred to as "in-force" policies. The total value of these policies can be calculated by adding together the face amounts and any dividend additions. This is an important concept to understand in the realm of finance, as it reflects the total amount of coverage that a person or entity currently holds.

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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Protection and Indemnity (P&I) clause

"Let's discuss the importance of marine liability insurance for ocean-going vessels. This type of insurance provides protection against financial losses resulting from third...

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Standard Risk

An individual who meets a company's underwriting standards and is eligible for insurance coverage without any additional charges or limitations is known as a preferred risk....

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Fair rental value

A crucial aspect of dwelling policies is the concept of potential rental income, which refers to the amount a building could have earned at the time of a loss, regardless of...

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