Mortgage life insurance Sunday, June 18, 2006
A form of reducing term insurance recommended for the borrower. In the event of the death of the owner or one of the owners, the insurance pays the balance owing on the mortgage. The intent is to protect survivors from losing their home.
Insurance that pays off the mortgage debt should the insured borrower die.
A term life insurance policy that covers the declining balance of a loan secured by a mortgage, and is payable upon death of a covered borrower.
A special type of insurance that will pay off a mortgage if the borrower dies before the debt is retired.
This insurance guarantees that if you die your mortgage will be paid in full. This insurance can be conveniently purchased through your lender and the premium added to your mortgage payments. However, you may want to compare rates for equivalent products from an insurance broker.
A decreasing-term life insurance policy purchased by a borrower which will pay off the outstanding balance in the event of the death of the borrower (mortgagor). The premium is paid as part of the monthly mortgage payment. Back to top -- View Real Estate Listings
A policy of insurance which promises to pay out the remaining balance owing on a mortgage should the borrower die. The amount payable by the insurer declines as the mortgage is paid down and the policy ends upon the paying out of the mortgage.
The insurance guarantees that if you die your mortgage will be paid in full.
A type of term life insurance often bought by mortgagors. The coverage decreases as the mortgage balance declines. If the borrower dies while the policy is in force, the debt is automatically covered by insurance proceeds.
A term life insurance policy that is made payable to the lender should a borrower die prior to repaying the loan.
an insurance policy on the life of a borrower that repays an outstanding mortgage debt upon the death of the insured.
Insurance that pays off your mortgage debt in the event of your death.
Term insurance which pays if death (mortgagor) occurs within a stated period, for the value of the then mortgage debt. A maximum $ amount may apply. Some policy's may contain riders that cover the terminally ill or accidental dismemberment within the same contract.
A type of term life insurance bought by the lender.
Is a fee paid by the borrower to the lender in exchange for being permitted to break a contract (a mortgage agreement); usually three months' interest, but it can be a higher or it can be the equivalent of the loss of interest to the lender.
posted by your Insurance @ 9:52 AM,
