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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 MatchesCoinsuranceCoinsuranceA sharing of the risk of an insurance policy by more than one insurer. Usually one insurer is liable up to a certain amount, the other liable over that amount. Private Mortgage InsurancePrivate Mortgage InsuranceInsurance against a loss by a lender in the event of default by a borrower (mortgagor). The insurance is similar to insurance by a governmental agency such as FHA, except that it is issued by a private insurance company. The premium is paid by the borrower and is included in the mortgage payment. Marine Cargo InsuranceMarine Cargo InsuranceInsurance covering loss or damage to goods in transit. Disability insuranceDisability insuranceAn insurance policy which covers an individual's ability to produce income. Personal accident insurancePersonal accident insuranceAn insurance policy which, in return for regular premiums, pays a specific sum in the event of death, loss of sight or limbs or other permanent disablement due to an accident. Further Suggestionsparticipating life insuranceconvertible term insurance homeowners insurance Letting insurance credit insurance liability insurance permanent health insurance (PHI) Insurance settlement insurance Annual renewable term insurance Export credit insurance Single premium life insurance indemnity insurance Title insurance variable life insurance Federal Insurance Contributions Act Insurance agent buildings insurance Accident, Sickness and Unemployment insurance Homeowners insurance policy keyman / keywoman insurance Bank Insurance Fund (BIF) Term life insurance War Risk Insurance Guaranteed renewable policy insurance |
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