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Insurance

Mortgage insurance

Let's discuss a type of insurance that is specifically designed to cover the life of an individual who has taken out a mortgage. This form of insurance is known as decreasing term insurance and its purpose is to provide death benefits that can be used to pay off the remaining balance of a mortgage. As the name suggests, the coverage amount decreases as the debt decreases. However, there is also a variant of this insurance called mortgage unemployment insurance, which offers coverage for the mortgage in case the policyholder becomes involuntarily unemployed.

Original Age

When purchasing a policy, it is important to consider your age at the time of purchase. This factor can greatly impact the terms and benefits of your policy. As you age, the...

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Inland transit policy

A fundamental agreement that pertains to domestic shipments, predominantly transported through land-based transportation methods. This type of contract outlines the terms an...

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Contract of adhesion

In finance, there exists a type of contract known as an insurance contract. This specific agreement holds a crucial factor that we must pay attention to - the wording. Any v...

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Irrevocable beneficiary

A restrictive beneficiary designation is a legally binding agreement that cannot be altered without the expressed permission of the designated beneficiary. This means that o...

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