0
What type of insurance sold to a debtor and designed to pay the amount due on a loan if the debtor dies before the loan is repaid is called?
The type of insurance designed to pay off a loan if the debtor dies before it is repaid is called "credit life insurance." This insurance provides financial protection to borrowers' beneficiaries by covering the outstanding loan balance upon the borrower's death, ensuring that loved ones are not burdened with the debt.
What else can I help you with?
The required initial amount you pay before your receive insurance benefits is called the?
its called the deductible. ask an insurance company about it.
What is The dollar amount you have to pay before an insurance plan takes effect and the insurance company starts paying called?
deductible
What is the term for the amount you and your employer pay in exchange for insurance coverage?
The amount that is paid for any kind of insurance is called "premiums". The same term applies whether an employee or employer pay for the insurance.
What is the amount you or your employer pays in exchange for insurance coverage called?
The term is "premium".
What the amount paid for the coverage under an insurance policy is called?
These are referred to as "premiums".
What is it called when i have to pay an Insurance company a fixed amount of money each year?
The fixed amount of money you pay to an insurance company each year is called a premium. This payment secures your insurance coverage and ensures that you are protected against specific risks or losses, as outlined in your policy. Premiums can vary based on factors such as the type of insurance, coverage amount, and individual risk factors.
What is it called Total amount of pay before deductions?
The total amount of pay before deductions is the amount before taxes are taking out. This is the gross income.
What terms is the amount you or your employer pays in exchange for insurance coverage?
It is called a premium.
Programs designed to aid business by calculating insurance premiums or martage loans are called?
iiDK jAjAjA
What type of Term Life insurance has a level premium and a policy limit that goes down over time?
A very common kind of term life insurance is called "level term life insurance". There also exists "decreasing term life insurance". Ordinarily the premium remains the sale but the face value of the insurance decreases over time. This is quite common in the context of mortgages where the amount of coverage is designed to correlate with the amount owing on the mortgage. The object is that upon the death of the insured/borrower, there will be funds available to pay off the mortgage.
What are the different types of Life Insurance available?
Actually there are two different type of life insurance available. The first one is called "Term insurance" where the insurance only covers a specific amount of time. The second one is called "Permanent life insurance", where the insurance remains usually active (with some exit options of course).
What is insurance premium paid in advance called?
Prepayment of the premium before it is due.
