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Mortgage Life Insurance refers to an insurance policy that guarantees repayment of a mortgage loan in the event of death or, possibly, disability of the mortgagor. Private Mortgage Insurance (PMI) refers to protection for the lender in the event of default, usually covering a portion of the amount borrowed. There are Government loan products that also include a Mortgage Insurance Premium (MIP), essentially the government equivalent of PMI. |
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Term Life Insurance - Some Underwriting Guidelines |
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 By W A Henderson
What are some of the insurance underwriting guidelines for a term life insurance quote? I will start with a list of some of them and try to give a quick reason why they use that information to rate a policy. 1. Height/weight: Of all the criteria collected and looked at, this is probably the easiest to understand why. The reason being is if a person is either too far under or over weight for their height, it can lead to serious health conditions. |
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Term Quotes - What You Should Know First |
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 By W A Henderson
Term quotes... what are they? Term quotes is basically a slang term for term life insurance quotes, and though it may seem obvious many people do not understand that. While we are on the subject of often misunderstood words in the life insurance industry I would like to clarify the word term. Term life insurance means that your policy will only cover you for a certain time period and that period is called the term. If you purchase a ten year term life insurance policy at the end of the ten years you have no more coverage and this is very important to understand and remember. There are some term life insurance companies that sell guaranteed convertible and renewable policies. These are the policies that you should look for. Why? |
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