0
What else can I help you with?
What is a insurance payment made by the policyholder called?
An insurance payment made by the policyholder is called a premium. This payment is typically made on a regular basis, such as monthly or annually, in exchange for coverage provided by the insurance policy. The amount of the premium can vary based on factors like the type of insurance, coverage limits, and the policyholder's risk profile.
Do life insurance policies accrue interest?
Whole life insurance can accrue interest. However, look at the charges associated with that type of insurance, and your outcome may be less.
What type of insurance is required for a personal loan?
The type of insurance required for a personal loan is typically called "credit life insurance" or "payment protection insurance." This insurance helps cover the loan payments in case the borrower is unable to make them due to certain circumstances like death, disability, or involuntary unemployment.
Can variable universal life insurance be converted into a fixed account?
Variable universal life insurance is not an account. It is a policy that invests in separate accounts in an attempt to earn higher returns than a fixed policy. A variable universal life insurance policy can be converted into a different type of life insurance policy but not a different kind of account.
Do I have to pay mortgage insurance?
Whether or not you have to pay mortgage insurance depends on the type of loan you have and the amount of your down payment. If you have a conventional loan and put down less than 20 of the home's value, you will likely be required to pay mortgage insurance. However, if you have an FHA loan, mortgage insurance is typically required regardless of your down payment amount.
What type of account is a mortgage payment associated?
A mortgage payment is associated with a liability account, specifically a long-term liability on the balance sheet. This account represents the outstanding balance owed on a loan taken out to purchase real estate. Each payment typically consists of both principal and interest components, impacting both the liability and interest expense accounts over time.
Match each fee or payment with the type of account or insurance?
Non-sufficient funds fee: Checking account; Cash advance fee: Credit card; Co-pay: Health insurance; Interest payment: Mortgage
Which type of insurance does not build a cash value for insured?
Limited payment life insurance
Which type of insurance is sometimes used to guarantee the payment of mortgage in case the insurance died?
decreasing term insurance...
What type of account is insurance expense?
liability
What type of policy is a certainty that the insurance company will have to make payment?
None.
What does an impress account refer to?
An Impress account typically refers to a type of financial or payment account associated with the Impress platform, which facilitates transactions for various services, such as digital payments or financial management. It may include features like invoicing, budgeting, and expense tracking. The specific benefits and functionalities can vary depending on the platform or service associated with the account.
With which type of account is a minimum balance fee associated?
Checking account
Which type of insurance is sometimes used to guarantee the payment of a mortgage in case the insured died?
decreasing term insurance...
What type of account is Prepaid Insurance?
Prepaid insurance is personal nature of account and amount in it is shown as current asset in balance sheet.
Which type of insurance contract requires a lumps or periodic payment in exchange for receiving periodic payments from the insurance payment?
Whole Life, Universal Life, as well as Annuities can be used for this purpose.
What is a insurance payment made by the policyholder called?
An insurance payment made by the policyholder is called a premium. This payment is typically made on a regular basis, such as monthly or annually, in exchange for coverage provided by the insurance policy. The amount of the premium can vary based on factors like the type of insurance, coverage limits, and the policyholder's risk profile.
