Terminology in Insurance

Terminology in Insurance LIC India popular in India

This is the second part of Insurance Terms named as Terminology in Insurance sharing more glossary words of Insurance which are technical words of insurance but to be know to us. Money Back Policy In layman language Money Back Policy is where insurer get its money back but as per the Life Insurance Corporation – the policy in which policy holder gets periodic survivance payments during the term of Policy and lumsum amount on surviving it terms. In this the beneficiary gets full sum assured on surviving. Moral Hazard Risk…

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