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Whole Life, Universal Life, as well as Annuities can be used for this purpose.

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Q: Which type of insurance contract requires a lumps or periodic payment in exchange for receiving periodic payments from the insurance payment?

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As you have described it, this sounds very similar to an annuity.

A Variable Annuity is an insurance contract in which at the end of the accumulation stage, the insurance company guarantees a minimum payment. The remaining income payments can vary depending on the performance of the managed portfolio.

the insured agrees to make a lump-sum payment or series of payments to an insurance company...

Deferred annuity is a type of contract that allows the delay of payments until the investor chooses to receive them. To calculate the deferred annuity you, divide the future amount by (1+rate of return)^the length of the term.

A mortgage payment calculator will calculate your monthly mortgage payments. You can find a full list of helpful information at: www.bankrate.com/calculators/mortgages/mortgage-calculator.aspx

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That could be an annuity, or a permanent life insurance policy.

As you have described it, this sounds very similar to an annuity.

Whole Life, Universal Life, as well as Annuities can be used for this purpose.

Whole Life, Universal Life, as well as Annuities can be used for this purpose.

An annuity is a contract between you and an insurance company in which you pay a lump-sum payment or a series of payments in exchange for regular payments, which can start right away or at a later date.

A Variable Annuity is an insurance contract in which at the end of the accumulation stage, the insurance company guarantees a minimum payment. The remaining income payments can vary depending on the performance of the managed portfolio.

Read your CONTRACT. You have to be in DEFAULT of the contract for the lender to repo. If you are current on payments, what else can you be in default of?? INSURANCE coverage?

As long as the contract is NOT in default, NO. Read the contract. Payments current, ins. current, no other defaults?

Instalments are payments for your debts which can be paid on monthly, quarterly or yearly basis or way to make payments. Annuity is insurance product which is contract between you and insurance company for your investments.

A paid-up policy is a whole life insurance policy for which no additional premium / payments are required to keep it in force.

A fixed income annuity is a type of insurance contract where the insurance company makes payments of a preassigned amount to the holder of the annuity, the annuitant.

An insurance annuity is a financial product in the form of an insurance product according to which a seller makes a series of future payments to a buyer in exchange for the immediate payment of a lump sum or a series of regular payments prior to the onset of annuity.