A form of decreasing term insurance that covers the life of a person taking out a mortgage. Death benefits provide for payment of the outstanding balance of the loan. Coverage is in decreasing term insurance, so the amount of coverage decreases as the debt decreases. A variant, mortgage unemployment insurance pays the mortgage of a policyholder who becomes involuntarily unemployed.
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About this Entry
This page contains a single entry by David published on July 13, 2005 12:06 AM.
MARINE INSURANCE was the previous entry in this blog.
MULTIPLE PERIL POLICY is the next entry in this blog.
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