What does Mortgage Life Insurance mean? Read on to discover the definition & meaning of the term Mortgage Life Insurance - to help you better understand the language used in insurance policies.
Mortgage Life Insurance
Term life insurance (paid for by the borrower/mortgagor) that pays off the home mortgage balance in the event the borrower dies before. It is usually bought to protect his or her family from losing its home.
We hope the you have a better understanding of the meaning of Mortgage Life Insurance.