Study On The Housing Mortgage Loan Insurance

Nowadays, the housing mortgage loan insurance is familiar with the people.What is the concept of the housing mortgage loan insurance? It mainly refers to whenthe insured person due to some natural causes, such as accidental injury or physicaldisability or died and so on. Or due to some reasons such as social causes, where theircompanies were closed down, annexation, withdrawal, and layoffs which causeunemployment or a decline in income and so on. Because of all of these reasons,when the insured person can’t give their housing mortgage loan insurance, theinsurance company should give this insurance according to the insurance contractwith the insured person.This insurance system was first appeared in United State, and its development isvery mature. It has three types. They are life insurance, property insurance, and creditinsurance. Though studying and summarizing the housing mortgage loan insurance ofthe developed countries, we can easily find that developed countries has been able toget such a huge success, the main reason is they can get the support of thegovernment credit, and they have the guarantee of the perfect legal system. Then theprivate housing mortgage loan insurance is gradually introduced. Thus forming thepublic and privatization of a mixed business model. Because of these reasons, thehousing mortgage loan insurance develops stable and mature in the developedcountries.However, in China, the housing mortgage loan insurance started relatively late,and its development time is too short. Without any theoretical guidance, lacking ofpractical experience, the bank and insurance company face many problems. So thehousing mortgage loan insurance should be continuous improved.