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The First Life Directive of the European Union includes tontines as a permitted class of business for insurers. However, this does not mean that tontines should be considered insurance contracts. According to the Supreme Court of the United States the nature of "insurance" involves some investment risk-taking on the part of the company ...
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person.
From technical to whimsical, prepare for your vocabulary to be stretched with 20 of the longest words in English. Plus, find out what they mean. Related: 55 Examples of Onomatopoeia
According to Eckler, the longest words likely to be encountered in general text are deinstitutionalization and counterrevolutionaries, with 22 letters each. [17] A computer study of over a million samples of normal English prose found that the longest word one is likely to encounter on an everyday basis is uncharacteristically, at 20 letters. [18]
The longest word in any given language depends on the word formation rules of each specific language, and on the types of words allowed for consideration. Agglutinative languages allow for the creation of long words via compounding. Words consisting of hundreds, or even thousands of characters have been coined. Even non-agglutinative languages ...
A life insurance premium is the rate you pay for life insurance coverage. Life insurance premiums are determined using factors such as age, health, policy type and coverage limits.
Term life insurance: Term life insurance is generally the cheapest kind of life insurance. It provides coverage over a specific term period, usually between 10 and 30 years.
Subject to the "fortuity principle", the event must be uncertain. The uncertainty can be either as to when the event will happen (e.g. in a life insurance policy, the time of the insured's death is uncertain) or as to if it will happen at all (e.g. in a fire insurance policy, whether or not a fire will occur at all). [4]
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