BANCASSURANCE Definition

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BANCASSURANCE is a general term describing the broader financial services activities of banks and building societies, in particular their 'insurance company' activities.

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ACCOUNTS RECEIVABLE RESERVE is a reserve against bad debt. See also RESERVE and RESERVE ACCOUNTS.

PROCEEDS, generally in business, is the total amount brought in, e.g. the proceeds of a sale. In insurance, it is the net amount received (as for a check or from an insurance settlement) after deduction of any discount or charges.

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