Results 1 to 3 of 3
    • Member Info
      • Member Type:
      • Student or Learner
      • Native Language:
      • Slovak
      • Home Country:
      • Slovak Republic
      • Current Location:
      • Slovak Republic

    • Join Date: Apr 2008
    • Posts: 59
    • Post Thanks / Like
    #1

    Blocked insurance

    Hello teachers,

    could you please explain to me what the sentence below means:

    "The capital can be paid into a blocked insurance policy."

    What does exactly BLOCKED INSURANCE stand for?

    Thank you very much!

  1. Soup's Avatar
    • Member Info
      • Member Type:
      • English Teacher
      • Native Language:
      • English
      • Home Country:
      • Canada
      • Current Location:
      • China

    • Join Date: Sep 2007
    • Posts: 5,892
    • Post Thanks / Like
    #2

    Re: Blocked insurance

    Does this help?
    The term blocked life insurance policy shall mean any life

    insurance policy or annuity contract, or contract supplementary thereto,

    in which there is a blocked interest.

    (2) Any interest of a national of a designated foreign country shall

    be deemed to be a ``blocked interest.''

    (3) The term servicing shall mean the following transactions with

    respect to any blocked life insurance policy:

    (i) The payment of premiums, the payment of loan interest, and the

    repayment of policy loans;

    (ii) The effecting by a life insurance company or other insurer of

    loans to an insured;

    (iii) The effecting on behalf of an insured of surrenders,

    conversions, modifications, and reinstatements; and

    (iv) The exercise or election by an insured of non-forfeiture

    options, optional modes of settlement, optional disposition of

    dividends, and other policy options and privileges not involving payment by the insurer.

    Section

    • Member Info
      • Member Type:
      • Student or Learner
      • Native Language:
      • Slovak
      • Home Country:
      • Slovak Republic
      • Current Location:
      • Slovak Republic

    • Join Date: Apr 2008
    • Posts: 59
    • Post Thanks / Like
    #3

    Re: Blocked insurance

    Yes thank you!

    However, I have been searching for a specific term in English which should mean that when applying for a loan, as a guarantee you can use your life insurance policy that has to be "blocked?" in favour of the bank in case you are not able to pay.

    Can I say it like that?

Similar Threads

  1. national insurance
    By Hanka in forum Ask a Teacher
    Replies: 1
    Last Post: 22-Nov-2006, 13:07
  2. Blocked
    By kahhong in forum Ask a Teacher
    Replies: 4
    Last Post: 18-Nov-2006, 05:59
  3. blocked out and blinded?
    By Eway in forum Ask a Teacher
    Replies: 1
    Last Post: 03-Nov-2006, 19:59
  4. column about car insurance 1/2
    By HaraKiriBlade in forum Ask a Teacher
    Replies: 2
    Last Post: 03-Jun-2005, 06:41
  5. column about car insurance 2/2
    By HaraKiriBlade in forum Ask a Teacher
    Replies: 3
    Last Post: 03-Jun-2005, 06:21

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •