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Payments made before an insurance policy’s effective date are known as advance premiums. These payments ensure that insurance coverage starts on time and continues without interruption. Advance premiums are a …
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Learn what an admitted company is in insurance, how it differs from a non-admitted company, and why it matters for policyholders and regulators. Understanding an Admitted Company In the insurance …
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Discover what admitted assets mean in insurance, how they work, and why they matter for an insurer’s financial stability and regulatory compliance. Understanding Admitted Assets In the insurance industry, admitted …
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Understanding the meaning of admission is essential in both finance and insurance, as the term carries specific implications depending on context. In general, “admission” refers to the acceptance, acknowledgment, or …
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An adjuster is the professional who investigates and evaluates insurance claims to determine how much an insurer should pay a policyholder. When an accident, loss, or damage occurs, an adjuster …
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An actuary is a financial professional who analyzes statistical data to evaluate and predict risks, particularly in the fields of insurance, finance, and pensions. Their work ensures that companies can …
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An Actuarial Report is a formal document prepared by a professional actuary to present their findings, conclusions, and recommendations about an insurance company’s financial soundness, reserves, and risk exposure. In …
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Actual Cash Value (ACV) is the amount an insurance company will pay to replace or repair damaged property, after accounting for depreciation. When you file an insurance claim—say, for your …
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The accumulation period is the phase when you contribute money to a financial or insurance product—such as an annuity or retirement plan—before you start receiving payments from it. In simple …
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Accidents can happen when least expected, and their financial impact can be devastating. Accidental Death and Dismemberment (AD&D) insurance offers an extra layer of financial protection by providing coverage in …
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