Examlex
The highest stage in Kohlberg's theory of moral development in which individuals develop a moral standard based on universal human rights.
Deductible
The amount an insured individual must pay out of pocket before an insurance company pays a claim.
Co-payment
A payment model where the insured party pays a specified amount out-of-pocket for health services, with the insurance covering the remaining costs.
Wealth Creation
involves the generation of income, assets, and economic value through various means such as investment, entrepreneurship, and innovation, contributing to financial growth and prosperity.
Risk Averse
A preference for certain outcomes over others, even if the uncertain option may offer a higher expected return.
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