Optional Insurance definition

Optional Insurance. Any life, accidental death or accident and health (disability) insurance purchased by Mortgagor in connection with a Mortgage Loan.
Sample 1Sample 2Sample 3
Optional Insurance means mortgage/credit life insurance, accidental death insurance, disability insurance, unemployment insurance or any similar optional insurance covering a Mortgagor for which premiums are collected by the Subservicer.
Sample 1
Optional Insurance. We offer insurance for an additional daily fee. Our insurance provides physical damage and loss coverage to the trailer, items within or mounted on the trailer, tent, and solar power system on the trailer. Security deposit will be applied to the insurance deductible of
Sample 1

Examples of Optional Insurance in a sentence

  • They are called Optional Insurance because they are not required by law.

  • If you or someone on your behalf gives us false, deceptive, misleading or incomplete information in any application or policy change request and if such false, deceptive, misleading or incomplete information increases our risk of loss, we may refuse to pay claims under any or all of the Optional Insurance Parts of this policy.

  • However, if you have financed your auto, the bank or finance company may require that you have some Optional Insurance as a condition of your loan.The amount of your coverage and the cost of each Part is shown on the Coverage Selections Page.Your Compulsory Insurance does not pay for any damage to your auto.

  • There are two basic categories of insurance described in this policy, Compulsory Insurance and Optional Insurance.

  • Employee Optional Insurance: Effective January 1, 2008, ability to purchase up to $500,000 in coverage; Guaranteed Issue is $ 200,000 if applied for within 31 days of full-time hire.

  • You can cancel any of the Optional Insurance Parts at any time by giving us or your agent at least twenty days written notice.

  • Spouse Optional Insurance: Effective January 1, 2008, ability to purchase up to $250,000; Guaranteed Issue: $100,000 if applied for within 31 days of employee’s full-time hire date.

  • We may also pay any Extra Covers, Additional Benefits or Optional Insurance that are expressed to be in addition to the insured amount or limit of liability.

  • You fail to complete and furnish us with a renewal application on a form prescribed by the Commissioner at least 30 days before the expiration of the previous policy period.If the driver’s license or auto registration of anyone residing in your household who usually operates your auto has been under suspension or revocation during the policy period, we may suspend coverage for that person under any of the Optional Insurance Parts of the policy.

  • These coverages are written on an actual cash value basis or stated amount basis.Endorsement MPY-0031-S, titled Other Optional Insurance – Combined Additional Coverage, must be issued with the policy when this coverage is afforded.


More Definitions of Optional Insurance

Optional Insurance. The District is providing families with the option to purchase insurance for District provided Chromebooks. This is an optional annual cost for families to consider. Details about the insurance plans are provided on a separate flyer, and are purchased directly through the vendor. The District cannot accept payments for the insurance coverage on these devices.
Sample 1
Optional Insurance means mortgage/credit life insurance, accidental death insurance, disability insurance, unemployment insurance or any similar optional insurance covering a Mortgagor for which premiums are collected by the Subservicer. “Original Subservicing” means, as the context shall indicate, (i) the Mortgage Loans existing in the Lender’s portfolio as of the date of the execution of this SA or (ii) the subservicing of those Mortgage Loans as of the date of execution of this SA. “Parties” means Lender and Subservicer referred to in this SA, each a “Party”. “Person” means a human individual, partnership (limited or general), corporation, limited liability company, joint venture, joint stock company, association, unincorporated organization, government or agency or political subdivision thereof, or other entity. “P&I” means principal and interest. “PMI” means private mortgage insurance. “PMI Companies” means the insurance companies that have issued or will issue PMI policies insuring any of the Mortgage Loans. “Prime Rate” means the fluctuating prime rate established each Business Day under the “MONEY RATES” column in The Wall Street Journal. “Prior Servicers” means, individually or collectively, all individuals and entities that at any time originated, serviced or subserviced any of the Mortgage Loans. “Recon Firm” is defined in Section 2.5(d)(2). “REO” means real estate owned, i.e. real property for which the title was acquired by an Investor or by Lender through foreclosure of a Mortgage or acceptance of a deed in lieu of foreclosure. “Servicing Rights” means the rights and responsibilities with respect to servicing and subservicing the Mortgage Loans and the associated Escrow Accounts and Mortgage Loan Files. “Subservicer” means the Party identified as such at the top of Page 1. “T&I” means taxes and insurance. “Term” is defined in Section 5.1. 5
Sample 1
Optional Insurance. CIS has partnered with Safeware Inc. to offer optional insurance to cover accidents and damage beyond warranty repair for a one-time fee to Safeware of $36 per year. If elected, when a student is issued a device, parents will need to enroll the device at xxxxx://xxxxxxx.xxxxxxxx.xxx/Open-Enrollment Students without insurance will be responsible for damages that may be up to the Full price of the machine.
Sample 1

Related to Optional Insurance

  • Additional Insureds has the meaning specified in Section 7.06(a) of the Indenture.

  • Additional Insured is defined in Section D of Annex D to the Lease.

  • FHA Insurance means the Federal mortgage insurance authorized pursuant to Section 220, 221(d)(3), 221 (d)(4) or 223(f) of Title II of the National Housing Act of 1934, as amended.

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.

  • Travel Insurance means coverage for personal risks incidental to planned travel, including one or more of the following:

  • Co-insurance means the percentage of the usual, reasonable, customary, and fair market value expense that a covered person must pay.

  • group insurance means blanket insurance and franchise insurance and any other forms of group insurance.

  • R&W Insurance Policy has the meaning set forth in Section 6.15.

  • Blanket travel insurance means a policy of travel insurance issued to any eligible group providing coverage for specific classes of persons defined in the policy with coverage provided to all members of the eligible group without a separate charge to individual members of the eligible group.

  • Policy means Related Party Transaction Policy.

  • Life Insurance Policy has the meaning given in Section 6.11.

  • Primary Insurance Policy Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.

  • Special Primary Insurance Policy Any Primary Insurance Policy covering a Mortgage Loan the premium of which is payable by the Trustee pursuant to Section 4.04(a), if so identified in the Mortgage Loan Schedule. There are no Special Primary Insurance Policies with respect to any of the Mortgage Loans.

  • Fidelity Insurance means insurance coverage with respect to employee errors, omissions, dishonesty, forgery, theft, disappearance and destruction, robbery and safe burglary, property (other than money and securities) and computer fraud in an aggregate amount acceptable to Seller’s regulators.

  • Life insurance means contracts that incorporate mortality risk, including annuity and pure endowment contracts, and as may be specified in the valuation manual.

  • Dental Insurance The District shall contribute $175.00 annually toward the cost of dental insurance whether for single or family coverage for full status employees who qualify for and enroll in the plan. The cost of the premium not contributed by the District for family coverage shall be borne by the employee through payroll deduction. This coverage shall continue for the duration of this contract.

  • Other Insurance means insurance available to any covered person that covers a loss to which this policy applies, other than either primary insurance or insurance specifically purchased by you to be excess of the insurance afforded by this policy.

  • Standard Hazard Insurance Policy means a fire and casualty extended coverage insurance policy in such amount and with such coverage as required by this Agreement.

  • Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance (and federal flood insurance, if the Manufactured Home is secured by an FHA/VA Contract and such Manufactured Home is located in a federally designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 5.09.

  • general insurance business means any class of insurance business other than long-term insurance business;

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • Primary Mortgage Insurance Policy Any primary mortgage guaranty insurance policy issued in connection with a Mortgage Loan which provides compensation to a Mortgage Note holder in the event of default by the obligor under such Mortgage Note or the related Security Instrument, if any or any replacement policy therefor through the related Interest Accrual Period for such Class relating to a Distribution Date.

  • Collateral Insurance shall have the meaning set forth in Section 4.4(a).

  • Errors and Omissions Insurance Policy means an errors and omissions insurance policy maintained by the Master Servicer, the Special Servicer, the Trustee, the Custodian or the Certificate Administrator, as the case may be, in accordance with Section 8.2, Section 9.2 and Section 7.17, respectively.

  • Insurance Policies has the meaning set forth in Section 3.16.

  • Blanket insurance policy means a group policy covering a defined class of