Learn about the cost of living benefit in health insurance, which ensures that disability benefits increase after 12 months and annually thereafter to keep up with inflation.
Learn about dividends in general insurance terms, where an insurer returns part of the premium paid by an insured for a policy or part of a surplus paid to stockholders.
Explore the concept of Lien Plan in liability insurance, a specialized coverage for substandard risks where reduced policy benefits are paid out if the insured dies before a specified timeframe.
Learn about the multiple indemnity clause in life insurance policies, which ensures multiplied benefits if the peril occurs in a specified way, such as double indemnity in case of arson.
