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The legal duty of all parties entering a contract to act honestly and not mislead or withhold critical information from one another.
Utmost good faith
A regular income paid by a government or a financial organization to someone who no longer works, usually because of their age or health.
Pension
The substitution of one person or group by another in respect of a debt or insurance claim, accompanied by the transfer of any associated rights and duties.
Subrogation
Money paid to the government that is based on your income or the cost of goods or services you have bought.
Tax
The amount of money an individual or business pays for an insurance policy.
Premium
Insurance compensation for damages or loss.
Indemnity
All the people employed by a particular organization.
Staff
This means that you can only insure against a risk that directly affects you.
Insurable interest
An asset or item acquired with the goal of generating income.
Investment
Items of ownership convertible into cash; the items detailed on a balance sheet, especially in relation to liabilities and capital.
Assets
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