TextWhen is a mortgage clause used in connection with insuranceon a property?The insured lends money to a third party to build a house and adds the value of thatproperty to their own policy.TextA mortgagee has a financial interest in the insured's property and wishes its interestprotected under an insurance policy.The amount of insurance is insufficient to meet the amount owing under amortgage.The mortgage holder wishes extra perils insured which are not included in the policywording. Text Certain Accident Benefits limits under O.A.P. 1 Owner's Policycan be increased or extended at the option of the insured.Which one (1) of the following benefits CANNOT be changed?Death and Funeral Benefits.Income Replacement Benefit.Caregiver Benefit for Catastrophic Injuries.Disability Benefit after Age 65.

A mortgagee clause is a provision in a property insurance policy that protects the lender who holds…

Text When is a mortgage clause used in connection with insurance on a property? The insured lends money to a third party to build a house and adds the value of that property to their own policy. Tex A mortgagee has a financial interest in the insured's property and wishes its interest protected under an insurance policy. The amount of insurance is insufficient to meet the amount owing under a mortgage.

Text When is a mortgage clause used in connection with insurance on a property? The insured lends money to a third party to build a house and adds the value of that property to their own policy. Tex A mortgagee has a financial interest in the insured's property and wishes its interest protected under an insurance policy. The amount of insurance is insufficient to meet the amount owing under a mortgage.