ENDOWMENT POLICY Definition

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ENDOWMENT POLICY is a combination of life assurance and investment whereby the sum assured is paid at a predetermined date or on death, if earlier.

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REPLACEMENT COST NEW is the current cost of a similar new property having the nearest equivalent utility to the property being valued.

RETURN ON STOCKHOLDERS EQUITY is a measure of how profitably the company is utilizing shareholders funds. It is calculated: profit after tax + total stockholders equity. Also called RETURN ON NET WORTH.

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