Sentences with phrase «life of this loan insured»

The payments on this loan are fixed for the entire 30 - year life of this loan insured by the Federal Housing Administration.

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According to the company's website, they generate home loans «with the intention of servicing them for the life of the term,» with the exception of FHA - insured products, which are sold to investors in the secondary market.

In most cases, borrowers with FHA - insured home loans have to pay their FHA insurance premiums for the life of the loan, under the current guidelines.

SAVINGS OVER THE LIFE OF THE LOAN With private mortgage insurance that may cost less over time — may be eligible to be canceled once 20 % home equity is reached, unlike mortgage insurance on government - insured loans.

Student loan companies want you to pay them for the rest of your life — and this is one way they can insure that you will.

And because the most common reverse mortgages, also known as Home Equity Conversion Mortgages (HECMs), are government - insured, these loans may provide you with the peace of mind you need to live a comfortable retirement.

Minneapolis, MN: The Federal Housing Administration (FHA) has announced that sometime in 2013, all new FHA insured mortgage loans will now require the monthly mortgage insurance be on the loan for the entire LIFE OF LOAN.

While there are FHA - insured loans that require just 3.5 % down, those loans require you to pay mortgage insurance for the life of the loan, which will keep your monthly payments higher.

See how insuring your RBC Royal Bank ® loan or line of credit with LoanProtector life and disability or critical illness insurance could provide your family with a financial safety net.

If another person also becomes insured for Life and Disability Insurance on the same loan, a 15 % discount will be applied to each of the individual premiums.

You may not be a sure thing (for credit or loan life insurance): Personal loan and line of credit insurance programs offer life protection for the insured balance of your loan or credit line.

Also, because the federal government insures these loans, you have to pay an upfront mortgage insurance premium (currently, the fee is about 1.75 %) and annual mortgage insurance (typically 0.85 % of the borrowed loan amount), which remains throughout the life of the loan (or until you can refinance the loan into a conventional mortgage).

Suicide Clause: A life insurance policy provision that states if the insured dies by suicide within a certain period of time from the date of issue (usually two years) the amount payable would be limited to the total premiums paid minus any policy loans or outstanding premiums.

The definition of life insurance death benefit is the amount of money payable to the beneficiary or beneficiaries listed on a life insurance policy upon the death of the insured, minus any policy loans.

However, FHA remains responsible for insuring 100 percent of the outstanding loan balance throughout the entire life of the loan, a term which often extends far beyond the cessation of these MIP payments.

If you take out a mortgage loan insured by the Federal Housing Administration — better known as an FHA loan — you might have to pay PMI for the life of the loan.

The initial monthly payment and interest rate are low under this FHA - insured mortgage product, but these may change during the life of the loan.

The features promised in the TV commercials include: «A reverse mortgage is a safe government insured loan, allows borrowers to remain in their home for life, no mortgage payments, create a stable secure retirement, provide additional income, a better quality of life.

This works well for insured people if the term ends after most of their obligations — mortgage, student loans, children's education and so on — are no longer an issue and they don't need that extra level of protection that life insurance offers.

If there are any loans against the life policy, then these amounts will reduce the face value of the death benefit when the insured passes away.

But keep in mind that loans from a life insurance policy will reduce the policy's cash value and death benefit, could increase the chance that the policy will lapse, and might result in a tax liability if the policy terminates before the death of the insured.

If the total of your life insured RBC Royal Bank loans and lines of credit limit, plus any loans and lines of credit limit for which you are applying for LoanProtector insurance exceeds $ 100,000

The amount of money paid or due to be paid when a person insured under a life insurance policy dies, after adjustments for any outstanding policy loans, dividends, paid - up additions or late premium payments (if applicable) are made.

Additionally, all vehicles used as collateral will need to be insured against physical damage for the entire life of the loan.

At issue was whether OCGA 33 -32-4 (a) authorizes the insurer to issue a credit life insurance policy which covers the total amount payable over the term of the loan or limits the policy's coverage to the principal amount financed by the insured.

The borrower must be the owner of the policy, but not necessarily the insured, and the policy must remain current for the life of the loan with the owner continuing to pay all necessary premiums.

Suicide Clause: A life insurance policy provision that states if the insured dies by suicide within a certain period of time from the date of issue (usually two years) the amount payable would be limited to the total premiums paid minus any policy loans or outstanding premiums.

Living benefits include policy loans, the right to make collateral assignments, and, in some cases, the right to take benefits in the event of the insured's terminal illness.

This should be reason enough for an insurance company to approve you purchasing life insurance (coverage totaling the amount of the mortgage loan) with your mother as the insured.

If another person also becomes insured for Life and Disability Insurance on the same loan, a 15 % discount will be applied to each of the individual premiums.

If you do have to use student loans to help with tuition, consider buying a term life insurance policy insuring your student for the total amount of the loan.

This works well for insured people if the term ends after most of their obligations — mortgage, student loans, children's education and so on — are no longer an issue and they don't need that extra level of protection that life insurance offers.

4 Distributions from a life insurance policy in the character of partial surrenders (withdrawals) up to basis or policy loans will generally be income tax free, provided the policy does not violate Modified Endowment Contract (MEC) guidelines and the policy is not terminated during the lifetime of the insured.

This is true; both whole life and term life insurance will pay out if the insured party passes away during the lifetime of the loan.

In general, a typical life insurance plan helps the family with a lump sum amount to take care of the funeral costs, pay the loans and bear the daily expenses, in case the insured person passes away.

The following are not considered a settlement under state insurance regulations: • A loan from an insurer under the terms of the life insurance policy (e.g., a policy loan) • A loan from a third party where the policy's cash value is used as collateral (collateral assignment) • A beneficiary designation without a transfer of value • A beneficiary designation of someone with an insurable interest in the insured

Mortgage death insurance is a life insurance policy that provides death benefits meant to pay off the outstanding balance on a home mortgage loan in the event of the insured person's death.

Distributions from a life insurance policy in the character of partial surrenders (withdrawals) up to basis or policy loans will generally be income tax - free, provided the policy does not violate Modified Endowment Contract (MEC) guidelines and the policy is not terminated during the lifetime of the insured.

With each payment you make to a permanent life insurance policy, part of your premium goes toward insuring your life, and part goes toward building cash value... that can be used to take out a loan, make a withdrawal, or even skip a payment.

It is important to note here, though, that even though a life insurance policy loan is not required to be repaid, if the insured dies while there is still a balance outstanding, the amount of this balance — plus interest — will be subtracted from the total amount of death benefit proceeds that are paid out to the beneficiary.

These forms of permanent life insurance can all give the owner access to cash by being surrendered, loaned against, or having cash withdrawn before the insured person passes away.

Because the life insurance company uses a combination of the policy cash value (while alive) or the policy death benefit (after death of the insured) to provide collateral and «guaranteed» repayment of the loan.

In some cases, the accrued loan interest on a life insurance policy is so severe that there's no way to save the situation — necessitating either a surrender of the policy, or perhaps a life settlement sale transaction for an older insured.

In fact, the reality that the only way to use a life insurance policy's cash value to repay a loan tax - free is via the death benefit leads to a number of «rescue» strategies for life insurance policies with substantial loans, specifically to help ensure that the policy remains in place until the death of the insured.

From the tax perspective, though, the repayment of a life insurance policy loan from the death benefit of the policy is tax - free, because the payment of a death benefit itself (by reason of the death of the insured) is tax - free in the first place.

Star Union Dai ichi Loan Suraksha Premium and gains are ways of investment for the life insured person.

Mortgage protection life insurance is a type of life insurance policy designed to pay for the insured's mortgage should they die before having paid the loan off.

Because the SBA is concerned only about the death benefit of the policy held with the principal as the insured, your life insurance options for SBA loans are very broad.

Any existing loans against your permanent life insurance policy will decrease the amount of the payout to the beneficiary at time of death of the insured.

In exchange for a series of premium payments or a single premium payment, upon the death of an insured person, the face value (and any additional coverage attached to a policy) minus outstanding policy loans and interest, is paid to the beneficiary of the life insurance policy.