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Demo Insurance Terms

Insurance Terms

ContractAgreement between company and policy Holder.(One Giving and one taking)
NomineeA Person who receives the money on death.
RiderIt can be taken along with normal policy for extra benefits
Sum AssuredThe limit of the policy amount or Risk Amount, Insurance
ClaimPayment of sum assured on Death or maturity.
Risk & PerilEconomic loss is risk and reason for risk is peril
Coroner (Investigator)A person who investigates in case of death cases
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