A proper analysis and identification of the information/ assumptions which form the basis of any plan. It is used to check if any changes need to be made.

A notice issued in order to provide the exact date on which a premium will become payable.

An injunction granted before the trial has started, which states that the plaintiff will suffer extensive damage in case the injunction is not granted. Security must be posted with the court in

A theory which states that individual investors generally have a preferred limit of lengths when it comes to the maturity of any bond, and an investor is only liable to go out

To set up a prior claim, or the right to gain an advantage before anybody else.

A receipt given out to a policy holder, by the insurer or an agent on behalf of the insurer, which provides confirmation that payment has been received.

A situation in which the claim launched by the plaintiff hasn’t fully grown to become an actual claim.

A legally binding agreement between a couple, stating how the assets would be divided if the marriage fails to last.

A clause included in certain policies, which grants the beneficiary a refund on the face amount of their policy, including all of the premiums that they have paid so far.

A technique in which brands try to sell their products at a higher price compared to the general market, in order to create a brand image.

A technique in which two or more products are sold in one piece, as a bundle. Generally, a premium offer is used to increase sales of a product.

A requirement that states that any person who wishes to apply for an insurance license must complete an educational degree or course.

Costs that are charged before a firm actually opens for business, usually in the setting up and promotional activities.

Costs that are incurred before income has been reported on the balance sheet.

More dividends are paid out to shareholders as their value of stock increases.

A movement, usually in politics, in which a politician claims to represent the sentiments of the people. Usually, a populist will try to represent the claims of the oppressed population.

Methods adopted by large scale companies in order to secure themselves against a hostile takeover.

A process by which local projects are funded through the government’s funds, in order to attract more investment in a certain representative/ populist’s area/ district.

To persist and overcome a number of issues to achieve a goal. Usually includes physical, or mental barriers.

Certain substances, such as heavy metals, which do not take any effect from the environment. These substances are usually poisonous for animals and plants.