Glossary
Exclusions from Liability
A clause in the general terms and conditions of an insurance contract specifying the cases in which the insurer is not liable and does not pay compensation. Typical examples include intentional damage caused by the insured, participation in military actions, terrorist acts, natural disasters not covered by the policy, or failure by the insured to fulfil their obligations.
Expense
An amount of money spent on purchasing goods, services, or carrying out a specific activity.
Expenses - glossary for children
The money that people spend on goods, services, taxes, and social insurance contributions. For businesses, expenses are the money needed for materials, salaries, advertising, transport, taxes, and other costs.
Extra Income - glossary for children
Money that is not part of a person’s main income and can come from extra work, selling things, rent, or other sources.
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