Who Pays For Private Mortgage Insurance?

Mortgage insurance also known as Loan insurance is the insurance taken by the insured customer to safeguard the mortgage in case of sudden demise of the insured. The mortgage insurance is normally offered as declining term insurance cover in which the insured customer would pay the premium till the end of the mortgage period. The sum assured under Mortgage insurance would be the loan amount at any given time. In Indian scenario the mortgage customers would pay for the private mortgage insurance policy.

Who is an Insurance Broker?

Insurance brokers are agents that need to work for insurance companies. They sell policies but do not own them. Buying a policy through an insurance broker might sound like a good idea but think about the additional expenses that come with it. Not only would brokers charge you brokerage fees, but they will also tack on other charges to your policy.

Who Pays for Private Mortgage Insurance on a Mortgage?

This insurance offered is popularly known as Mortgage insurance or Mortgage title insurance or Home loan protection plan insurance. At the time of giving loan banks and other financial institutions ask for insurance to cover the loan in case of death of the insured or in case of the customer not being able to pay the installments.

Who is Insured Person?

Insured Person(customer) is the person who protected by an insurance company when he/she buy/purchase an insurance policy.

Who is the Regulator of Insurance Sector in India?

Insurance Regulatory and Development Authority of India (IRDAI) 1999

Who is an Insurance Agent?

An insurance agent is the intermediary employed by the insurance company on its behalf to sell the insurance to the customers. A good insurance agent for insurance is one who can render good services to his customer at all times with reasonable care. The service offered by each type of agent is different and it is the responsibility of the customer to decide the best insurance agent before purchasing the policy.

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