Sweep Accounts: Types and How They Work.

. Types of Sweep Accounts and How They Work Can you withdraw from a sweep account? A sweep account is a type of account that automatically transfers funds from a primary account to a secondary account when the primary account reaches a certain balance. The funds are typically transferred to an account with a higher … Read more

How Savings Accounts Work.

Savings Accounts: How They Work. What are the 4 types of money? 1. Traditional Savings Accounts – These are the most common type of savings account and usually offer relatively low interest rates. However, they may offer some additional benefits such as a sign-up bonus or ATM access. 2. High-Yield Savings Accounts – These accounts … Read more

Open House.

An open house is an event during which a house or other property is available for prospective buyers to view. Open houses are typically held on weekends, and they give buyers the opportunity to see a property without having to schedule a showing. Can you put an offer on a house without viewing it? It … Read more

Education Loan.

An education loan is a type of loan specifically intended to finance a student’s education. Education loans can be used to pay for tuition, room and board, books and other education-related expenses. Education loans typically have low interest rates and may be subsidized, which means the government pays the interest while the student is in … Read more

What Is a Deferment Period?

A deferment period is a designated amount of time during which a borrower is not required to make payments on their student loan. This can be a helpful option for borrowers who are experiencing financial difficulties or who are returning to school. Who is eligible for student loan deferment? There are a few different types … Read more

What Is Third-Party Insurance?

Third-party insurance is insurance that is purchased by an individual from a company other than the individual’s own insurance company. This type of insurance is often required by state law in order to protect the individual from being sued by another party in the event of an accident. What are the 4 types of insurance? … Read more

Medical Payments Coverage (MedPay) Definition.

Medical Payments Coverage is insurance that covers medical expenses incurred by the policyholder, regardless of who is at fault. MedPay is sometimes referred to as “no-fault” coverage. Which of the following medical expenses are not covered under health insurance? There is no definitive answer to this question as different health insurance plans cover different medical … Read more

Black Box Car Insurance.

Black box car insurance is a type of insurance where the insurer uses a black box fitted to the car to track the driving habits of the policyholder. The data collected by the black box is used to calculate the premium, and the policyholder is typically offered a discount if they drive safely. What does … Read more

What Is Subrogation?

Subrogation is a legal term that refers to the act of one party taking over the rights and responsibilities of another party. In the context of car ownership, subrogation typically occurs when an insurance company pays out a claim to a policyholder and then pursues reimbursement from the party responsible for the damages. What is … Read more

What Is an Emerging Market Economy?

An emerging market economy is a country that is in the process of industrialization and economic growth. Emerging markets are typically characterized by high levels of poverty, income inequality, and economic instability. The term “emerging market economy” is often used interchangeably with “developing economy.” However, there is a subtle difference between the two terms. A … Read more