lweo

(limited) community of property All the assets and/or liabilities become communal property through a marriage or partnership. In a limited community of property this applies only to the assets and/or liabilities acquired during the marriage or partnership.
adverse selection Adverse selection means that people with a high risk (‘bad risks’) do take out insurance and people with a low risk (‘good risks’) do not.
bad risks Insured persons who claim proportionally more damage.
duty to accept Insurers are obliged to insure anyone who comes forward against the same premium.
excess When people claim a damage they have to pay part of the costs themselves.
financial self-reliance Making well-considered financial choices, in such a way that your finances are balanced, in the short as well as in the long term.
financial self-reliance Making well-considered financial choices, in such a way that your finances are balanced, in the short as well as in the long term.
good risks Insured persons who claim proportionally less damage.
group insurances An insurance in which the government obliges everybody involved to participate and for which it has been laid down what benefit or compensation they receive.
housing allowance A contribution to the rental costs provided by the government to tenants with low incomes.
immovable property Goods that are firmly attached to the earth, such as land, houses and buildings.
inheritance All the assets and liabilities left by a deceased.
insurance Agreement between an insurer and an insured person whereby the insured pays an amount to the insurer, who in return gives the guarantee that in case of damage the insured is compensated for this damage.
moral hazard Moral misconduct: the hazard of people or institutions starting to behave carelessly and irresponsibly, when they do not have to foot the bill themselves
mortgage loan A long-term loan with immovable property as security: if the debtor cannot fulfil his obligations, the immovable property can be sold.
premium Amount which you pay to an insurance company, so that you are insured against finan¬cial consequences of unexpected agreed events.
premium differentiation Differences in premium. Bad risks pay more premium than the good risks.
private insurance Agreement between an insurer and an insured person whereby the insured pays an amount to the insurer, who in return gives the guarantee that in case of damage the insured is compensated for this damage.
risk aversion Disliking risks for fear of unexpected harmful events
security A money lender will have to rely on the borrower to pay the loan back. To enhance the certainty of repayment, the lender and the borrower can agree that if the borrower defaults, certain assets can be sold by the lender, so as to repay the loan with the proceeds of the sale.
spread of risks The sharing of risks with a large group of people who run the same risk.
usufruct The surviving partner/spouse can keep using the share in the estate of the deceased and of the children.

(limited) community of property
All the assets and/or liabilities become communal property through a marriage or partnership. In a limited community of property this applies only to the assets and/or liabilities acquired during the marriage or partnership.

adverse selection
Adverse selection means that people with a high risk (‘bad risks’) do take out insurance and people with a low risk (‘good risks’) do not.

bad risks
Insured persons who claim proportionally more damage.

duty to accept
Insurers are obliged to insure anyone who comes forward against the same premium.

excess
When people claim a damage they have to pay part of the costs themselves.

financial self-reliance
Making well-considered financial choices, in such a way that your finances are balanced, in the short as well as in the long term.

good risks
Insured persons who claim proportionally less damage.

group insurances
An insurance in which the government obliges everybody involved to participate and for which it has been laid down what benefit or compensation they receive.

housing allowance
A contribution to the rental costs provided by the government to tenants with low incomes.

immovable property
Goods that are firmly attached to the earth, such as land, houses and buildings.

inheritance
All the assets and liabilities left by a deceased.

insurance
Agreement between an insurer and an insured person whereby the insured pays an amount to the insurer, who in return gives the guarantee that in case of damage the insured is compensated for this damage.

moral hazard
Moral misconduct: the hazard of people or institutions starting to behave carelessly and irresponsibly, when they do not have to foot the bill themselves

mortgage loan
A long-term loan with immovable property as security: if the debtor cannot fulfil his obligations, the immovable property can be sold.

premium
Amount which you pay to an insurance company, so that you are insured against finan¬cial consequences of unexpected agreed events.

premium differentiation
Differences in premium. Bad risks pay more premium than the good risks.

private insurance
Agreement between an insurer and an insured person whereby the insured pays an amount to the insurer, who in return gives the guarantee that in case of damage the insured is compensated for this damage.

risk aversion
Disliking risks for fear of unexpected harmful events

security
A money lender will have to rely on the borrower to pay the loan back. To enhance the certainty of repayment, the lender and the borrower can agree that if the borrower defaults, certain assets can be sold by the lender, so as to repay the loan with the proceeds of the sale.

spread of risks
The sharing of risks with a large group of people who run the same risk.

usufruct
The surviving partner/spouse can keep using the share in the estate of the deceased and of the children.