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Mortgage Insurance |
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Mortgage InsuranceInsurance written by a private mortgage insurance company (referred to as an 'PIC') protecting the mortgage lender against loss incurred by a mortgage default, thus enabling the lender to lend a higher percentage of the sale price. The Federal Government writes this form of insurance through the FHA and the VA.Mortgage Insurance Similar MatchesGroup insuranceGroup insuranceInsurance provided for company employees by employers. Items covered may include health insurance, disability insurance and term life insurance. It would be considerably more expensive for a single employee to obtain such insurance. Buildings and contents insuranceBuildings and contents insuranceBuildings and contents insurance can often be purchased together protecting both the building structure and your belongings and possessions inside. Term life insuranceTerm life insuranceA contract that provides a death benefit but no cash build up or investment component. The premium remains constant only for a specified term of years, and the policy is usually renewable at the end of each term. Motor insuranceMotor insuranceThe insurance of motor vehicles covering damage or loss and liabilities for injuries to other people and damage to property.Drivers in the UK have to insure against third party claims. Under this type of insurance, if it is proven that the insured is the cause of an accident, the insurance company will only pay for injury or repairs for damage to the property of the third party.A variant of this is third party fire and theft insurance which is basically third party insurance plus additional cover if the insured's vehicle is damaged by fire or if stolen.For a higher premium, comprehensive insurance gives additional cover to the insured including damage to his/her vehicle, personal effects and overseas travel etc. Federal Insurance Contributions ActFederal Insurance Contributions ActIn the US, the federal law which directs employers to withhold a proportion of employees' salaries for payment to the government in order to provide future pension and other social security benefits. Further Suggestionsaccident insurancetravel insurance sickness insurance Bank Insurance Fund (BIF) buildings insurance Payment protection insurance long term care insurance Private Medical Insurance private medical insurance personal accident insurance level term insurance Mortgage payment protection insurance (MPPI) Insurance dividend Named perils insurance contents insurance Life insurance in force Financial guarantee insurance non participating life insurance policy Deposit insurance insurance wedding insurance Accident, Sickness and Unemployment insurance disability income insurance Stock insurance company Insurance principle |
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