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Could be paid for full term of your entire mortgage or paid off in full.

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Q: How long Is the Mortgage Insurance Premium paid?
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Related questions

What would make a mortgage insurance premium increase?

There are many things that would make a mortgage insurance premium increase. Mortgage insurance is used when someone dies and pays money so that the mortgage will be paid. Smoking or participating in dangerous activities will increase the premiums.


When paying off a loan. Is mortgage insurance premiums still due?

No, unless it specifically states in the mortgage contract the last insurance premium is to be paid with the loan payoff. If you don't pay it all they can do is cancel your insurance which you don't want anymore.


Insurance premium paid in advance Is it a accrued expenses?

No, if Insurance premium is paid in advance then it is a Prepayment - current asset.


What happens to your mortgage when you are hospitalized?

Your mortgage must be paid unless you have arranged for some type of mortgage insurance.Your mortgage must be paid unless you have arranged for some type of mortgage insurance.Your mortgage must be paid unless you have arranged for some type of mortgage insurance.Your mortgage must be paid unless you have arranged for some type of mortgage insurance.


What is the amount paid periodically for insurance?

Premium


What is insurance premium paid in advance called?

Prepayment of the premium before it is due.


Does insurance premium mean monthly?

No. The premium is the price you pay for the coverage. Depending on your insurance company, the premium may be paid all at once or in payments.


How do you know if your mortgage will be paid off if you die?

You check to see if you purchased mortgage insurance.


What is a car insurance premium?

A car insurance premium is the amount of money paid to an insurance company for a 6 month period. It is cheaper to pay the full premium that pay each month.


What type of insurance do you need in order for the mortgage to be paid off when one owner dies?

Joint Mortgage Term Life Insurance


What does the word premium mean?

Premium is an amount to be paid for an insurance policy or something given as an award.


What is the journal entry for paid insurance premium?

debit insurance premiumcredit cash / bank