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credit insurance
Term | Definition |
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installment credit | credit used when a customer makes a sizable purchase and agrees to make payments over an extended but fixed period of time. |
revolving credit | combines the features of a store credit card and installment credit. |
debit card | immediately transfers funds electronically from the customer's checking account to the business's account when a purchase is made. |
smart card | is a plastic card with an embedded microprocessor that can store and process a large amount of information. |
character | is a measure of a person's sense of financial responsibility or personal belief in the obligation to pay debts. |
capacity | is a measure of earning power and reflects the person's potential to pay, based on current income and other financial obligations. |
capital | the third C, is measure of the credit applicant's employment current financial worth or ability to pay based on assets. |
conditions | the last of the four Cs of credit, is an assessment of the economic environment, such as the economic health of a community or the nation and the extent of business competition. |
no -fault insurance | insurance company is required to pay the losses of its insured when an accident occurs, regardless of who was responsible for the accident. |
health insurance | provides protection against the expenses of individual health care. |
disability insurance | offers payments to employees who are not able to work because of accidents or illnesses. |
life insurance | pays money upon the death of the insured to a person or persons identified the insurance policy |
liability insurance | protects against losses from injury to people or their property that result from the products services, or operations of the business |