Stop-Loss Insurance: A type of insurance coverage that enables provider organizations or self-funded groups to place a dollar limit on their liability for paying claims and requires the insurer issuing the insurance to reimburse the insured organization for claims paid in excess of a specified yearly maximum.

 

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Stop-Loss Insurance: A type of insurance coverage that enables provider organizations or self-funded groups to place a dollar limit on their liability for paying claims and requires the insurer issuing the insur . . . View Full Definition

Individual Stop-Loss Coverage: A type of stop-loss insurance that provides benefits for claims on an individual that exceed a stated amount in a given period. Also known as specific stop-loss coverage.

Aggregate Stop-Loss Coverage: A type of stop-loss insurance that provides benefits when a group's total claims during a specified period exceed a stated amount.

Municipal Bond Insurance: An insurance policy that guarantees payment on municipal bonds in the event the issuer defaults.

Multiple Peril Insurance: Insurance policy that covers a wide variety of property damage.

Mortgage Life Insurance: A life insurance policy that pays off the remaining balance of the insured person's mortgage at death.

Mortgage Insurance Premiums (MIP): Most FHA loans require the borrower to pay two mortgage insurance premiums: one upfront paid at closing, the second is an annual premium based on the loan balance each year.

Mutual Mortgage Insurance: Insurance premiums and other specified FHA revenues are paid into one of four FHA funds. Losses due to foreclosure are met from these funds.

Mortgagees Title Insurance: An insurance policy protecting the lender for the amount of the loan in the event of a future title dispute.

Named Perils Insurance: An insurance policy that names specific risks covered by the policy.