Guarantee insurance definition

What do you mean by guarantee insurance ? Is guaranteed issue life insurance a good option? What is pliga and what can it do for me? Is AIG guaranteed issue life insurance a bad deal? Some examples include a large corporation (the creditor) borrowing a significant amount of money from the market, backed by a guarantee from a large insurance company (guarantor).

It most commonly designates a private transaction by means of which one person, to obtain some trust, confidence or credit for another, engages to be answerable for him.

This type of insurance is also known as surety insurance. The person who executes the guaranty insurance is know as the guarantor. A risk-management product that protects landlords against loss if a renter defaults. This insurance is bought by the tenant and pays the monthly rent for a set period of time if the covered tenant stops making rent payments.

Policies are often geared toward the elderly, since most conventional policies require higher premiums and come with medical conditions. A statement of fact given to an insurer by the insured concerning the insured risk which, if untrue, will void the policy. A guarantee of the performance of a product. Fidelity and guarantee insurance is a type of insurance where the insurer agrees to indemnify an insured against a loss consequent to a dishonest or default of a designated person.

In this type of insurance the insurer agrees to indemnify for a valuable consideration and also subject to certain conditions.

Payment for this insurance may be added to the loan or it might be purchased from an insurer separate from the lender. Definition of insurance guaranty act : An act that provides funds that are used as a guaranty for policyholders in the event his or her insurer becomes insolvent. An individual fidelity guarantee policy covers one person for a stated amount.

A collective policy covers a group of named employees with a stated amount set for each individual. Bond insurance , also known as financial guaranty insurance , is a type of insurance whereby an insurance company guarantees scheduled payments of interest and principal on a bond or other security in the event of a payment default by the issuer of the bond or security. A warranty in an insurance policy is a statement attesting that something the insured person says is true. An insurance contract is written on the principle of utmost good faith, meaning each party must trust that the other is being completely truthful.

Insurance Policy Warranty. The term is used colloquially in the UK for a statement by a manufacturer of goods that it will undertake some responsibility such as repair or replacement. GUARANTEE , contracts. He lo whom a guaranty is made. In general, a guarantee is a promise to take responsibility for another company's financial obligation if that company cannot meet its obligation.

The entity assuming this responsibility is called the guarantor. Guaranty funds are active in all fifty states. English dictionary definition of guarantee.

It has a one-year guarantee that covers parts and labor. Rate guarantees means rates are frozen. Group insurance carriers offer a rate guarantee within their contracts.

This is the period of time that, the insurance company guarantees to the employer, there will not be an increase in the final premiums determined during the underwriting process. As a result of the company being placed in state receivership, Patriot National lost percent of its business and had to lay off.