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  • PEARSON (PEARSON)
  • Business 2016 NQF
  • Unit 3 - Personal and Business Finance
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Summary Different Insurance Products | A4 Managing personal finance | Unit 3: Personal and Business Finance

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Unit 3 - Personal and Business Finance
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A4 Managing personal finance: Different insurance products: - products (car, home and contents, life assurance and insurance, travel, pet, health) - different types of insurance policy for each product - features of different types of insurance - advantages and disadvantages of different types and features.

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Insurance

,What is insurance?

 An individual or entity receives financial protection or reimbursement
against losses from an insurance company.
 The company pools clients' risks to make payments more affordable for
the insured.
 Insurance policies are used to hedge against the risk of financial losses,
both big and small, that may result from damage to the insured or her
property, or from liability for damage or injury caused to a third party.


Insurance premium: An amount to be paid for a contract of insurance.

, Types of insurance

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Study Level
BTEC
Subject
Business 2016 NQF
Uploaded on
March 27, 2021
Number of pages
8
Written in
2019/2020
Type
Summary
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  • btec business unit 3
  • managing personal finance
  • personal and business finance
  • different insurance products

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