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Is there a insurance policy that allows the bank to take over a couple payments if you lose your job?
Wiki User
∙ 18y ago
Mortgage payment protection insurance is available (MPP). Or payment protection for all types of finance (loan). e.g. you pay a monthly fee to cover yourself should you lose your job, this can be extended to include critical illness cover if desired.
Wiki User
∙ 18y ago
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Periodic payments for an insurance policy?
annuity
What is the periodic payments made to keep an insurance policy in effect called?
premium
What is a life insurance policy dividend?
It's a payment made to the policy owner by the mutual insurance company when there is a profit. The policyholders are the owners of a mutual life insurance company and they share in the profits by receiving dividend payments from the insurance company.
What is 20 Pay life policy?
This type of policy is also referred to as a limited pay life insurance policy. Life insurance premiums are paid for 20 years then the policy is paid in full and no futher payments are required. The policy remains active until it is paid out or cashed in.
Who pays the premiums after life insurance is assigned?
If ownership of the policy is assigned, the assignee is liable for future premium payments.
What is special about a universal insurance?
Universal life insurance is special in that it allows the policy owner to alter the time period and amount of premium payments as well as the death benefit and you can do this while the policy is in effect. However the altered payments must be with limitations of the company you are getting the insurance through.
Periodic payments for an insurance policy?
annuity
What is a paid up insurance policy?
A paid up insurance policy is a life insurance policy under which all life insurance premiums have already been paid, with no further premium payments due on the policy.
What is paid up contract in Insurance?
A paid-up policy is a whole life insurance policy for which no additional premium / payments are required to keep it in force.
What is the periodic payments made to keep an insurance policy in effect called?
premium
When does long term care insurance begin?
Long term care insurance typically begins once the policy is in effect, which is usually after the premium payments have been made and the policy has been issued. The specific start date can vary depending on the insurance company and the terms of the policy, so it's important to check the policy documentation or consult with the insurance provider for the exact details.
What is a waiver of insurance policy?
I believe you are asking about waiver of insurance policy premium. There are certain insurance policies like children's plans, where even if the policy holder (Parent) is no more, the insurance company would waive off the premium payments and continue to provide the benefits to the policy beneficiaries (Children)
What is a life insurance policy dividend?
It's a payment made to the policy owner by the mutual insurance company when there is a profit. The policyholders are the owners of a mutual life insurance company and they share in the profits by receiving dividend payments from the insurance company.
Can you get insurance to pay your mortgage while the house is being rebuild if there is a fire?
No, Your homeowners insurance is a type of "Hazard Insurance", you must continue to make your mortgage payments as usual. If your policy contains "Loss of use" coverage, then your insurance will cover the cost of temporary housing within policy limits, allowing you to continue making your mortgage payments.
What type of policy is it certainty that the insurance company will have to make payment?
All policies pay only for the covered circumstances, and are subject to exclusions (which are important to understand). Assuming that the policy has been kept current, payments have been made, and the insurance company remains in business, most forms of insurance will receive their stipulated payments.
Are monthly payments more for a 20 year term life insurance policy from Mutual of Omaha more than for a 10 year policy?
Yes, monthly payments are more for a 20 year term life insurance policy than for a 10 year policy. This is usually the case for all forms of insurance since the insurance company is in effect taking on more risk by insuring you for a longer period of time when injury and health problems could arise.
What is 20 Pay life policy?
This type of policy is also referred to as a limited pay life insurance policy. Life insurance premiums are paid for 20 years then the policy is paid in full and no futher payments are required. The policy remains active until it is paid out or cashed in.
