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Bancassurance is an agreement between a bank and an insurance company, through which the insurer can sell its products to the bank’s customers. The insurance company benefits from an increase in sales and expansion of the client base without the need to expand the sales force. The bank wins by receiving additional income from the sale of insurance products. Unified Payment Interface (UPI)
September 25, 2022 Unified Payments Interface (UPI) is a smartphone banking application in India. Workers' Compensation
September 25, 2022 Workers’ compensation is a form of employers’ insurance coverage that pays benefits to workers who are injured or disabled as a result of their work. Workers' Compensation Coverage A
September 25, 2022 Workers’ Compensation A protects workers under state law. 3-6-3 Rule
September 25, 2022 The 3-6-3 rule is a slang term for an informal practice in banking, especially in the 1950s, 1960s and 1970s, that was the result of the industry’s uncompetitive and simplistic conditions. Accidental Death Benefits
September 25, 2022 An accidental death benefit is paid to the beneficiary of the accident insurance policy. Accidental Death and Dismemberment Insurance (AD&D)
September 25, 2022 Accidental death and dismemberment (AD&D) insurance is usually added as an add-on to a life insurance policy. Account Balance
September 25, 2022 The account balance represents the available funds or present value of an account of a particular financial account, such as a checking, savings or investment account. Account Number
September 25, 2022 The account number is a unique identifier of the owner of the service and allows access to it. Account Statement
September 25, 2022 An account statement is a periodic statement that summarizes account activity over a specified period of time. Actuarial Life Table
September 25, 2022 The statistics in the actuarial life table calculate, among other things, the probability of surviving to a certain age. Adjustable Life Insurance
September 25, 2022 Regulated life insurance allows policyholders to make adjustments to their cash value, premiums and death benefits. Advanced Internal Rating-Based (AIRB)
September 25, 2022 Advanced Internal Ratings (AIRB) is a way to accurately measure the risk factors of a financial firm. Aleatory Contract
September 25, 2022 an aleatory contract is an agreement under which the parties are not required to perform certain actions until a certain event occurs. All Risks
September 25, 2022 All risks - a comprehensive insurance policy offered on the property accident insurance market. Allocated Loss Adjustment Expenses (ALAE)
September 25, 2022 Allocation expenses (ALAE) are expenses related to a specific insured event. Annual Equivalent Rate (AER)
September 25, 2022 The annual equivalent rate (AER) is the actual interest rate on investments, loans or savings accounts that can be obtained after compounding interest. Annual Percentage Rate (APR)
September 25, 2022 The annual interest rate (APR) is the annual rate charged on a loan or earned by an investment. Assurance
September 25, 2022 A guarantee refers to a financial cover that provides a reward for an event that is bound to happen. Automated Teller Machine (ATM)
September 25, 2022 ATMs (ATMs) are electronic banking points that allow people to make transactions without going to their bank branch. Automatic Premium Loan
September 25, 2022 Automatic premium loans allow you to apply the cash value of a permanent life insurance policy to past due premium payments. Available Balance
September 25, 2022 Available balance is the balance available for immediate use in the client’s account. Back-to-Back Letters of Credit
September 25, 2022 A back-to-back letter of credit includes two letters of credit to provide financing for one transaction. Bank
September 25, 2022 A bank is a financial institution licensed to accept deposits and issue loans. Bank Credit
September 25, 2022 A bank loan is the total amount of funds that an individual or legal entity can borrow from a financial institution. Bank Deposits
September 25, 2022 Savings and current accounts accept bank deposits.