Delayed Payment Clause

Definition of "Delayed payment clause"

Life insurance policy provision stating that after the death of an insured, the proceeds from a policy are not immediately paid to the primary beneficiary; instead, they are delayed for a specified time period. This usually occurs in common disaster situations.

Search Real Estate Glossary

Related Real Estate Glossary terms

Livestock Floater

Standard Commercial Property Floater form covering death or damage to livestock as the result of ins ...

Druggists Liability Insurance

Coverage in the event that, while practicing the profession of druggist, an act or omission is commi ...

Form 5500

Form that reports the status and activity of retirement plans to the Internal Revenue Service (IRS). ...

Indemnity Agreement

Policy provision designed to restore an insured to his or her original financial position after a lo ...

Section 8 Housing

Federal program in which the U.S. government subsidizes much of the rent paid by low-income people. ...

Stair Landing

The landing at the bottom and/or top of a stair case providing support for the structure. ...

Related Real Estate FAQ

What Is PITI And What Does It Stand For?

PITI is the total monthly payment you make on a house-Principal, Interest, Taxes, and Insurance. ...

What Are Closing Costs?

Closing costs are expenses incurred by buyers and sellers in transferring ownership of a property. ...

What Is A Mortgage Insurance Premium (MIP)?

A mortgage insurance premium is a policy that insures the lender against loss if the homeowner defau ...

How Much Money Can I Borrow To Buy A Home?

To begin, you\'ll need to figure out what your gross income is (before taxes) monthly and yearly. T ...

What Happens When You Prequalify?

When you are prequalified, the lender gives you an estimate but does not formally commit to giving y ...

What Type Of Life Insurance Is Right For Me?

A life insurance policy can help enable your family to remain financially if you or your spouse shou ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

Mortgage Loan Types Home Prices - The Extra Costs Real Estate Open House - The Dos and Don'ts Top Five Reasons Your Home Offer was Rejected How To Sell Your Home

FAQ

What is a lease purchase mortgage? What is a VA loan? What if the computer I want to insure is homemade or custom-built? What is an appraised value? What is a subprime mortgage?