Accelerated Death Benefit – ADB.

An accelerated death benefit (ADB) is a life insurance policy provision that allows the policyholder to receive a portion of the death benefit while they are still alive if they are diagnosed with a terminal illness. The purpose of this benefit is to help cover the policyholder’s end-of-life expenses. In order to qualify for an … Read more

How General Equilibrium Theory Works.

In general equilibrium theory, agents are assumed to be price takers. This means that they take prices as given and do not try to influence them. The prices of the goods and services in the economy are determined by the interaction of supply and demand in the market. The market clearing condition is that the … Read more