| Objective risk | Relative variation of actual loss from expected loss, which varies inversely with the square root of the number of cases under observation. |
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| Offer document | In close-ended schemes, IPO states offer document for the investors to take an informed decision |
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| Option | A choice that a policy owner can make when deciding how to apply settlements, dividends, or non-forfeiture values. |
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| Other insurance provisions | It prevents an insured from making profit from insurance. |
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