ACCELERATED DEATH BENEFIT - ADB
This is a kind of benefit that can be included to life insurance policy by insurance companies that gives the policyholder a benefit to receive cash advances from his/her death benefits if the policyholder has been diagnosed with any terminal illness. Many policyholders that used accelerated death benefit have only less than a year to survive and they used the money in the cost of their treatments to stay alive.
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Affirmative Covenant
A kind of contract or promise that requires a party to conduct some action. For example, a bond covenant which provides that the issuer must delive ...
Pure Risk
A risk where loss is the only potential outcome; there is no positive result. A pure risk is related to events that are out of control of the risk- ...
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Performance level describing a process which uses the lowest amount of inputs to come up with the greatest amount of inputs. It is relative to usin ...
Tax Free
Goods and/or financial products that are not taxable. Having the tax free status allows an entity to save money and encourages additional spending ...
Reprice
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