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Mortgage life insurance |
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Mortgage Life InsuranceA term life insurance policy for theamount of the declining balance of a loan secured by a mortgage or deed of trust. The beneficiary under the policy is the mortgagee. In the event of death (some policies also cover disability) of the insured (mortgagor), the mortgage is paid in full.Mortgage life insuranceA life insurance policy which pays off the outstanding balance of a mortgage in the event of the death of the insured.Similar MatchesInsurance excessInsurance excessApplies to an insurance claim and is simply the first part of any claim that must be covered by yourself. This can range from £50 to £1000 or higher. Increasing your excess can significantly reduce your premium. On the other hand, a waiver can sometimes be paid to eliminate any excess at all. Always check the excess in your policy. Contents insuranceContents insuranceInsurance which gives cover in respect of the contents of a home. This includes damage, theft or loss of items such as carpets, furniture, freezer contents, jewellery and cash etc. It is usual for the insurers to specify a maximum claim limit for each section of items covered. This information is listed on the policy schedule issued by the insurers. Contents insurance can be linked with buildings insurance in a combined policy provided by a single company. Casualty insuranceCasualty insuranceInsurance which gives protection to a business or homeowner against property loss, damage and injury to a third party. InsuranceInsuranceA contract in which payment of premiums covers the insured against something which may, or may not occur. For example motor insurance covers the insured against accidents which may occur. In the UK insurance is differentiated from assurance (life assurance) which is protection against something which will inevitably occur. National Insurance (NI) Basic PensionNational Insurance (NI) Basic PensionThe basic state pension funded by a person's National Insurance Contributions over his working life and part of the National Insurance Pension. The rate at which the basic pension is paid is dependent on the person's National Insurance contributions record over his working life. Further Suggestionspermanent health insurance (PHI)reinsurance Named perils insurance Straight term insurance policy buildings insurance Coinsurance Insurance settlement Title insurance Home Warranty Insurance Level term insurance Letting insurance contract of insurance keyman / keywoman insurance personal accident and sickness insurance municipal bond insurance sickness insurance insurance policy National Insurance (NI) Contributions cash value life insurance Insurance personal accident insurance Federal Insurance Contributions Act Mortgage Insurance Savings Association Insurance Fund (SAIF) Federal Deposit Insurance Corporation |
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