What are the main benefits of Variable Life Insurance?

The main benefits include lifetime coverage, tax-deferred cash value growth, investment flexibility, and potential for high returns. Policyholders can manage their investments actively, which can lead to increased cash value and a larger death benefit if investments perform well.

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What is a captive insurer?

A captive insurer is a company created by a business to provide its own insurance coverage. This allows businesses to manage risks internally, reduce costs, and gain more control over coverage terms compared to traditional insurers.

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Can reinsurance be used for non-insurance businesses?

While primarily used in the insurance industry, reinsurance principles can also be applied to other businesses through structured risk management techniques and financial instruments.

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What are capital requirements for insurance companies?

Capital requirements are the minimum amount of financial resources insurers must hold to cover risks and unexpected losses. These requirements ensure that insurers have a financial buffer to absorb shocks and remain solvent. They vary by jurisdiction and regulatory framework, such as Solvency II in Europe or Risk-Based Capital (RBC) in the U.S.

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Does cyber insurance cover damage to IT systems?

Some policies include cyber property coverage, which helps repair or replace IT infrastructure damaged in a cyberattack, including software, databases, and hardware restoration costs.

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How does public health insurance impact my choice of doctor or hospital?

Public health insurance often limits your choice of healthcare providers, as it may work with specific doctors and hospitals. However, it ensures access to essential services regardless of provider choice.

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What factors affect my insurance premium?

Factors that can affect premiums include the type of coverage, your driving record, age, gender, health history, and the deductible amount you choose.

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How do ceding companies benefit from catastrophe reinsurance?

Catastrophe reinsurance protects ceding companies against extreme losses from natural disasters, pandemics, or large-scale accidents, ensuring financial stability and the ability to continue insuring policyholders.

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