All Risk Coverage
DEFINITION
All risk coverage is a broad type of insurance that protects against sudden and unexpected events unless the policy specifically lists them as exclusions.
ELI5
Think of it like a big umbrella. It covers many surprise problems unless the insurance paper clearly says a certain problem is not covered.
Other related terms
Insurance Nomination
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Effective Interest Rate (EIR)
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Whole Life Insurance
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Supplementary Retirement Scheme (SRS)
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