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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.
What else can I help you with?
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 is auto loan death insurance and how does it work?
Auto loan death insurance is a type of insurance that pays off the remaining balance of a person's auto loan if they die before the loan is fully repaid. This insurance provides financial protection to the borrower's family or estate in the event of their death, ensuring that they are not burdened with the loan debt.
What type of insurance is needed when you have a lien or loan on your car?
comprehensive coverage
What is the minimum deposit required for a home loan?
The minimum deposit required for a home loan typically ranges from 3 to 20 of the home's purchase price, depending on the type of loan and the lender's requirements.
Can you explain what credit insurance is on a car loan?
Credit insurance on a car loan is a type of insurance that helps cover your car loan payments if you are unable to make them due to circumstances like job loss, disability, or death. It can provide financial protection and peace of mind in case you face difficulties in repaying your loan.
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.
Which type of insurance reduced over the life of the policy?
Decreasing term life insurance usually purchased to cover a mortgage loan for whatever the loan period is. This type of coverage is not available by most life insurance companies.
Where can you purchase business interruption insurance?
Allianz is a servicer of business interruption insurance. If you have a small business loan, check with your loan provider as well to see if they can offer you this type of insurance.
Can your boss refuse to give you health insurance?
In the UK a company has to have certain liability insurance for the public and employees. The type and extent of that insurance would depend on the business itself. No company is required to supply personal health insurance outside of the liabilities of such insurance.
What is auto loan death insurance and how does it work?
Auto loan death insurance is a type of insurance that pays off the remaining balance of a person's auto loan if they die before the loan is fully repaid. This insurance provides financial protection to the borrower's family or estate in the event of their death, ensuring that they are not burdened with the loan debt.
What is personal insurance?
Personal Possessions Insurance is a type of insurance to protect your belongings when you are away from home. Many different insurance companies offer this insurance.
What is Personal Possessions Insurance?
Personal Possessions Insurance is a type of insurance to protect your belongings when you are away from home. Many different insurance companies offer this insurance.
What type of insurance is needed when you have a lien or loan on your car?
comprehensive coverage
What type of insurance is needed when you have a lien or loan your car?
comprehensive coverage
What type of insurance is need when you have lien or loan on a car?
comprehensive coverage
What type of business insurance is required for a beer distributor?
If one is looking for business insurance for a beer distributor it is required to have beverage wholesaler insurance. This type of insurance would cover things such as property and sign coverage, equipment breakdown insurance and business income insurance.
What is the minimum deposit required for a home loan?
The minimum deposit required for a home loan typically ranges from 3 to 20 of the home's purchase price, depending on the type of loan and the lender's requirements.
