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Tag Archives: Glossary
Glossary of Insurance Terms: Part 2
Endowment Policy The assured has to pay an annual premium which is determined on the basis of the assured’s age at entry and the term of the policy. The insured amount is payable either at the end of specified number … Continue reading
Glossary of Insurance Terms: Part I
Accident An event or occurrence causing damage/injury to an entity, and is unforeseen and unintended. Accident Benefit Provides for payment of an additional benefit equal to the sum sum assured in instalments on permanent total disability and waiver of subsequent … Continue reading
