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Insurance

Life Insurance & Zambia

Investopedia describes life insurance as “protection against financial loss that would result from the premature death of an insured. The named beneficiary receives the proceeds and is thereby safeguarded from the financial impact of the death of the insured. The death benefit is paid by a life insurer in consideration for premium payments made by the insured.”

Financial Jargon Made Simple, Loans, Savings/Investments

Financial Jargon Made Simple – Compound Interest

Investopedia defines compound interest as interest calculated on the initial principal, which also includes all of the accumulated interest of previous periods of a deposit or loan. Thought to have originated in 17th century Italy, compound interest can be thought of as “interest on interest,” and will make a sum grow at a faster rate