Actuarial science

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    Insurance Life Insurance: Life insurance is the pooling and protection of fortuitous losses such as financial position loss that may occur or result from the premature death of the insured by transferring such risks to the insurer through a past written agreed contract that indemnifies the named beneficiaries, and this indemnification amount is specified according to the premium amount. Importance of Insurance: As human beings are ultimately exposed to various types of risk such as; premature death of family head, catastrophic losses and theft losses, so insurance is way or a tool to which reduces the cost and the amount of loss that may result from different risks. So the importance and role of insurance is described as following: • Insurance provide security: Provides security and safety against the losses that may occur on a particular event, also providing inner security in the insured mind knowing the he would get indemnified after the occurrence of certain events under certain agreed regulations. • Insurance reduces business losses and risks: In Business, and because of slight negligence in commerce and industry, huge properties are employed. As those properties may be destroyed in any moment, and no one knows the future so no one is hundred percent sure for how long is he going to live, also health and cannot continue the business up to the longer time interval to support his dependents. By the support of insurance, he can be sure of his earnings, because at the…

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    To : David Kohler, VP of Product Development From: Aadit Sheth, Leading Life Insurance Company Date: Subject: Long Term Care Insurance Mr Kohler, I am writing to inform you about a new insurance product which I learnt about at the conference I attended last week, as a representative from our firm. The insurance product is actually very innovative and I was amazed at how useful this product would be for our firm as it could enable us to attract a great number of customers. The product is…

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    Best time to get Pet Insurance There are people who still see pet insurance as useless or again, as a way to get ripped off by “the system”. The truth is that they don’t see why they should get help with paying their vet’s bill. But, like always comes a time when you are hit with unpredictable events, where your beloved furry (or purry) companion gets affected with a serious condition, like for instance, cancer. What do you do in these cases? Do you want to pay your pet’s bill by taking a credit…

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    Most car insurances determine the amount you pay based on your credit score. The logic behind this is that those who tend to have lower credit rates are also more likely to have a poor payment history through-out their life and make more claims. This is also used to view previous credit history; if you have a poor credit history due to frequent missed payments the insurance company can protect themselves by you paying a higher rate in case you repeat your poor payment history. This is the…

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    4. Limitations 4.1 Conditions to be Fulfilled One must be warned that even when an incorporation clause is being identified as a clause in the reference document, it does not inevitably follow that that clause will be incorporated into the reinsurance contract. The clause could be entirely inapplicable in the reinsurance contract. Due to this, the courts have developed rules that have to be met, so as to ensure that only appropriate and applicable terms are incorporated into reinsurance…

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    most actuaries receive an undergraduate degree in mathematics, statistics, or actuarial science or a business-related field such as finance, economics, or business. Actuaries should also have the ability to use a computer and be able to develop and use spreadsheets and databases, as well as standard statistical analysis software. Actuaries use computers every day to find solutions for the company. In addition, it is important that they have good interpersonal skills because they need to be able…

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    Actuaries use mathematics, statistics, and financial theory to study uncertain future events, especially those of concern to insurance and retirement pension programs. Actuaries may work for insurance companies, consulting firms, government, employee benefits departments, or, more generally, in businesses that need to manage financial risk. A career as an Actuary is better described as a business career with a mathematical basis than as a technical mathematical career. Actuaries describe their…

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    In this passage from The Great Influenza, by John M. Barry, the use of figurative language, imagery, anaphora and parallelism, symbolism and exclusionary tone words to characterize scientific research as a dynamic, tedious, and calculated field of study that requires a variety of personality traits including curiosity, patience, and creativity. Moreover, uncertainty is identified as a central theme and elaborated on as being a necessary part to the process of scientific experimentation.…

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    Throughout history, the human race has struggled with whether it is essentially good or inherently evil. Even the greatest minds have had difficulty finding a definitive answer to this perplexing conundrum. Saint Augustine of Hippo, Hobbes, and Nietzsche all pondered this and were unable to come up with a simple answer. Fortunately, the debate that has lasted for millennia is coming to a halt. However, in order to successfully analyze the ways of humankind, a clear framework must be established.…

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    For these days, it is not that surprised to see everyone carries or uses a digital devices on the street. Cellphones, laptops, tablets, these massive types of devices have provided countless helps to our live. As the group of people that receive the most assistance from digital technology, students, especially college students (including me), are highly dependent on the technology. Technology has taken an important role on students’ college career, but as the return, students have gained huge…

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