Sentences with phrase «outstanding insured loans»

By law, the account is required to maintain a balance equal to 2 % of the FHA's outstanding insured loans and for the agency's first 60 - plus years, it met this requirement ably.

By law, the account is required to maintain a balance equal to 2 % of the FHA's outstanding insured loans and for the agency's first 60 - plus years, it met this requirement ably.

Not exact matches

It is also important to note that liabilities, such as outstanding bank loans, guarantees, lease agreements and payments to suppliers are usually not insured, leaving the personal assets of business owners pledged against these liabilities, and potentially leaving family members in financial distress.

This means it's only possible for borrowers who have outstanding federal loans or are part of a federally insured loan program.

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.

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.

Insure your outstanding loan balance with GAP coverage in case of a total loss or theft of your vehicle.

Mortgage lenders in these areas may determine that even though they must maintain, insure and sell the home, they may still make more money and have more qualified bidders at an auction, potentially allowing them to receive full payment for the outstanding mortgage loan.

The FHA has capital reserves equal to just 0.53 % of the value of the thousands of outstanding mortgage loans that they insure.

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.

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.

Once the proper insurance company forms have been completed and recorded by the insurance company, repayment of any outstanding loan can be paid from the policy cash surrender value or death benefit should the insured pass away and the loan becomes past due.

The cash value, minus any outstanding loan balance, will then be distributed as the endowment benefit if the policy is in force and the insured is then living.

If the insured dies, death benefit is reduced by the amount of any outstanding loan balance.

If any loans amounts are outstanding — i.e., not yet paid back — upon the insured's death, the insurer subtracts those amounts from the policy's face value / death benefit and pays the remainder to the policy's beneficiary.

The death benefit is the face amount or coverage amount of the policy that will be paid to the named beneficiary upon death of the insured (less any outstanding policy loans and interest).

Mortgage life insurance insures a loan secured by real property and usually features a level premium amount for a declining policy face value because what is insured is the principal and interest outstanding on a mortgage that is constantly being reduced by mortgage payments.

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.

In order to be eligible to exercise this rider, the insured must be at least 75 years old, the policy must have been in - force for at least 15 years, the Death Benefit Option must be Option A Level, the policy must be in corridor, and the outstanding loan balance must be the smaller of 93 % of the policy value after monthly deductions or (100 % minus the OLPR charge percentage) of the policy value after monthly deductions.

However, if an outstanding loan is not repaid before the insured's death, the policy loan balance including any unpaid interest will be deducted from the policy's death benefit.

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.

Subject to terms and conditions of the master policy, the Death Benefit will be directly payable to the Master Policyholder to the extent of outstanding loan amount; Death Benefit amount in excess of outstanding loan amount (if any), will be paid to the nominee / appointee / legal heir of the Insured Member.

The plan provides comprehensive insurance cover to the borrowers of the institution and offers to pay off the principal loan outstanding in the event of death of the insured borrower.

When the insured ultimately dies, the death benefit is paid minus the outstanding loans.

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.

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 additonal coverage attached to the policy), minus outstanding policy loans and interest, is paid to the beneficiary.

Some exceptions to this rule that I can think of will be things like unpaid premium / s, loans outstanding, interest on such loans 4) In case the life insured and nominee die at the same time, the policy money will go to the legal heir.

As long as the outstanding balance of the insured loan, the LTV ratio and the remainder of the amortization period are not increased, the new parameters will not apply when the mortgage insurance is transferred from one home to another.