Minimum Deposit Rescue


Definition of "Minimum deposit rescue"

Technique designed to permit the exchange of a life insurance policy that has an outstanding loan charged against it for another life insurance policy on a tax-free basis. The procedure is for the insurer to issue a new policy subject to a loan in the amount equal to the outstanding loan on the old policy. If the new policy so issued is of the form of a flexible premium policy such as universal life, the loan from the old policy can be replaced by the new policy assuming the loan.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

Chimney Back

Rear lining of chimney. An acceptable chimney back lining can be achieved by plastering the interior ...

Adjuster

Insurance company employee who settles the damage to insured property. The insured is contacted, th ...

Savings And Loan Association

Financial institution that channels the savings of its depositors mostly into mortgage and home impr ...

Optionor

Person or business that provides an option to someone else. ...

Bail-out Provision

Clause found in an annuity contract that enables the owner of that contract to withdraw his or her m ...

Asset

Economic resource that is anticipated to provide benefits to a business. ...

Related Real Estate FAQ

What Is A Buyer’s Agent?

An agent hired by buyers to help them find and negotiate the purchase of a home. This agent works fo ...

What Is A Ginnie Mae?

A Ginnie Mae is a name for the Government National Mortgage Association (GNMA), which is a governmen ...

What Is A Title Search?

A title search is the process of reviewing court records and other records to ensure that there are ...

What Is A Private Mortgage?

Private mortgage insurance is insurance that protects mortgage lenders against default on loans by p ...

What Is A Quit Claim Deed?

A quit claim deed is a formal document that denies a claim to a certain property. Often used to clea ...

What Is Hazard Insurance?

Hazard insurance is insurance coverage that compensates for physical damage to a property from natur ...

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

Agents join here
Add our widget on your Website

Real Estate Advice

10 Tips for Homebuyers Top Five Reasons Your Home Offer was Rejected Getting Ready to Sell? Don't make these DIY Mistakes! Rent or Buy - the pros and cons Foreclosure - The Pros and Cons of Buying

FAQ

What is Disability Insurance? What is a FHA mortgage? Do you have any tips to help me manage my investing? What are discount points? What is a principal?