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InsuranceA contract in which payment of premiums covers the insured against something which may, or may not occur. For example motor insurance covers the insured against accidents which may occur. In the UK insurance is differentiated from assurance (life assurance) which is protection against something which will inevitably occur.InsuranceGuarding against property loss or damage making payments in the form of premiums to an insurance company, which pays an agreed-upon sum to the insured in the event of loss.Insurance Similar MatchesNational Insurance (NI) ContributionsNational Insurance (NI) ContributionsThere are currently four categories of contributions: Class 1, Class 2, Class 3 and Class 4.Class 1: Employees earning above the lower earnings limit pay contributions at a rate dependent on their income and whether they are contracted in or out of S2P (State Second Pension). The contributions are made up to the upper earnings limit, that is, no NI contributions are payable on earnings above this limit. In addition to employees' contributions, employers must pay Class 1 contributions on all the employees' earnings.Class 2: Self employed people pay flat rate Class 2 contributions provided profits are above a certain level.Class 3: These are voluntary contributions which can make up for unpaid contributions over the previous six years.Class 4: Self employed people also pay a percentage of profits between given limits. Second to die insuranceSecond to die insuranceInsurance policy that, on the death of the spouse dying last, pays a death benefit to the heirs that is designed to cover estate taxes. Insurance brokerInsurance brokerA person specialising in insurance matters and who gives advice on the subject as well as arranging cover. Remuneration would normally be by way of commission from the insurer. Cash value life insuranceCash value life insuranceA life insurance policy which pays a benefit on the death of the insured but which also provides a savings element where benefits are payable before death. Single premium life insuranceSingle premium life insuranceA single payment for an insurance policy rather than regular premiums. Further Suggestionsuninsured motorist insuranceInsurance policy personal accident and sickness insurance Buildings and contents insurance Buildings insurance bank insurance fund homeowners insurance Financial guarantee insurance Level term insurance Municipal bond insurance Title insurance Insurance premium insurance policy Private Mortgage Insurance (PMI) credit insurance Conditional insurance level term insurance Liability insurance insurance premium tax legal expenses insurance buildings insurance Social Security Disability Income Insurance wedding insurance Named perils insurance Bank Insurance Fund (BIF) |
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