Sentences with phrase «lien against the policy»

The collateral assignment is a lien against the policy proceeds.

A collateral assignment is a legal document familiar to all lenders and in effect is a lien against the policy which guarantees insurance policy proceeds are first payable to the «assignee», in this case the lender, with the balance of proceeds going to the named beneficiary of the policy.

Upon the death of the insured, the death benefit will be reduced by the value of the lien against the policy and any unpaid loan and loan interest.

Since some state laws protect cash value and death benefits of insurance policies from claims by creditors, permanent policy holders can use the benefits from a permanent policy without risk of a judgment or a lien against the policy.

Not exact matches

It includes the policy number and effective dates, what types of coverage you have, what the policy's limits are, and personal information about the individuals insured or holding liens against the property.

This insurance policy protects your lender in case the title insurance company made a mistake in its title search and you later discover that there are liens against your home.

For the Accelerated Death Benefit for Chronic Illness Rider, the amount of death benefit that's accelerated, plus any accrued interest, will be secured by a lien against the base policy death benefit.

6 The amount of death benefit that's accelerated, plus any accrued interest, will be secured by a lien against the base policy death benefit.

The living benefit acts as a type of «lien» against the life insurance policy, thereby reducing the overall death benefit that is eventually paid out to your beneficiaries upon death.

It includes the policy number and effective dates, what types of coverage you have, what the policy's limits are, and personal information about the individuals insured or holding liens against the property.

It protects against claims from various defects such as another person claiming an ownership interest, improperly recorded documents, fraud, forgery, liens, encroachments, easements and other items that are specified in the actual policy.

A title policy guarantees that the home you purchase is free of liens, clouds against the title, or confusion in the prior ownership as to the date and time the policy is issued.

A policy of title insurance usually insuring an owner of real estate against loss occasioned by defects in, liens against or unmarketability of the owner's title.

ALTA Insurance («lender's policy») is a guarantee your lender requires to ensure there are no other liens against the property when your mortgage is recorded.

This insurance is split into a lender's policy and an owner's policy and is required for protection against future claims such as unpaid real property taxes, liens or other encumbrances that weren't discovered during the title history search.