Adoption Insurance (adoption cancellation insurance): Insurance which protects against financial loss which can be incurred after a birth mother changes her mind and decides not to place her child for adoption.

 

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Adoption Insurance (adoption cancellation insurance): Insurance which protects against financial loss which can be incurred after a birth mother changes her mind and decides not to place her child for adoption.

Medigap Insurance Policies: Medigap insurance is offered by private insurance companies, not the government. It is not the same as Medicare or Medicaid. These policies are designed to pay for some of the costs that Med . . . View Full Definition

Mortgage Insurance: A kind of insurance policy that will pay off the mortgage balance in the event of death, and in some policies, disability. Premiums are paid with the regular monthly mortgage payment.

Mortgage Insurance (PMI Or MI): Insurance that may be required when a loan is greater than 80% of the value of the home. This insurance protects the lender in the event a borrower fails to make his or her loan payments. Th . . . View Full Definition

Loss-Of-Income Insurance: Insurance coverage that will pay out income that a policyholder loses as a result of a disability, injury, or business disruption.

Long-Term Disability Insurance: Pays an insured a percentage of their monthly earnings if they become disabled.

Life Insurance: Life insurance is a contract you sign with an insurance company, obligating it to pay a death benefit of a certain value to the beneficiaries you name. In most cases, the payment is made at . . . View Full Definition

Life Insurance In Force: The dollar amount of life insurance that a company has issued, measured as the sum of policy face values and dividends paid.

Life Insurance Policy: The contract that sets out the terms of life insurance coverage.

Long-Term Care Insurance: Long-term care insurance is a policy designed to cover at least some of your expenses if you have a chronic but not life-threatening illness, long-term disability, or you are unable to live . . . View Full Definition