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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]
Interest incurred on indebtedness has historically been deductible, (although the deduction of "personal" interest was largely eliminated in 1986), and in the 1950s a type of "leveraged insurance" transaction began being marketed that permitted an insurance owner to in effect deduct the cost of paying for insurance by (1) paying large premiums to create cash values, (2) "borrowing" against the ...
The three insurance companies issuing a $25,000 policy on John Hillmon's life maintained that he was still alive. In support of their contention that Hillmon was still alive, the insurance companies offered a letter purportedly written on March 1, 1879 by Frederick Walters, a young cigarmaker.
However, you have uninsured motorist property damage on your policy, so your insurance company could make a payout for your vehicle’s repairs minus your $100 deductible. Other types of car ...
Letters to the Editor (LTEs) have been a feature of American newspapers since the 18th century. [citation needed] Many of the earliest news reports and commentaries published by early-American newspapers were delivered in the form of letters, and by the mid-18th century, LTEs were a dominant carrier of political and social discourse.
An endowment policy is a life insurance contract designed to pay a lump sum after a specific term (on its 'maturity') or on death. [ 1 ] [ 2 ] These are long-term policies, often designed to repay a mortgage loan, with typical maturities between ten and thirty years within certain age limits.
During the period from 1984 to 1987, premiums for general liability increased from about $6.5 billion to approximately $19.5 billion. [1] In addition to increases in premium, many insurers took the following measures to limit the number and cost of claims: 1) changed policy coverage from an occurrence to a claims-made basis; 2) expanded exclusions; 3) raised deductibles; and 4) lowered policy ...
An essay is, generally, a piece of writing that gives the author's own argument, but the definition is vague, overlapping with those of a letter, a paper, an article, a pamphlet, and a short story.