Specific insurance, which will pay off a mortgage if the borrower dies while the debt, is still outstanding.
In the case of a death of a covered borrower, this is a term life insurance policy that covers the declining balance of a loan secured by a mortgage, and is payable to the lender.
Pays off the balance of a mortgage when the policyholder dies or, in some cases, becomes disabled.
Insurance that will pay your mortgage in full in the event of your death.
A life insurance policy that pays off the remainder of a mortgage in the event that the borrower dies.
A life insurance policy that pays off the remaining balance of the insured person's mortgage at death.
A term life insurance that ensures the debt is automatically paid by insurance proceeds if the borrower dies while the policy is in force.
Insurance purchased to protect the mortgagor from the mortgage loan debt if the mortgagee dies. If he/she dies, the mortgage loan is paid off by the insurance company
A form of reducing term insurance recommended for the borrower. In the event of the death of an owner, the insurance pays out the balance of the mortgage. The intent is to protect survivors from losing their home.
A type of insurance that automatically pays off the mortgage in the event of theB borrowerâ€(tm)s death.
A type of insurance that will pay off a mortgage if the borrower dies while the loan is outstanding; a form of credit life insurance.
A type of life insurance that pays the remaining balance of mortgage if the insured dies. This is usually a decreasing term insurance policy where the death benefit decreases over time as the balance on the mortgage decreases.
Insurance policy on the life of the borrower to pay the total mortgage debt if the borrower dies before the mortgage is fully paid.
A type of term life insurance often bought by mortgagors. The amount of coverage decreases as the principal balance declines. In the event that the borrower dies while the policy is in force, the debt is automatically satisfied by insurance proceeds.
A form of reducing term insurance recommended for all mortgagors. 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 loss of their home.
Pays off the mortgage if the borrower dies.
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.
Insurance that will pay off a mortgage if the borrower dies before the loan is paid off.
A policy that fulfills the obligations of a mortgage when the policy holder dies.
If the owner of a property should die, this insurance will pay out the balance of the mortgage. The intent is to protect survivors from losing their home. This is a form of "reducing term insurance" which is recommended for the borrower.
A term policy that pays off an entire mortgage if the borrower passes away. See also "Mortgage Insurance."
This form of insurance pays the outstanding balance of your mortgage in full if you die. This is different from home or property insurance, which insures your home and its contents.
A form of reducing term insurance recommended for all mortgagors. If you die, have a terminal illness, or suffer an accident, the insurance can pay the balance owing on the mortgage. The intent is to protect survivors from the loss of their homes.
Insurance to pay off your mortgage in full if you die. Many lenders offer this insurance and add the premium to your mortgage payments. However, you may want to compare rates for equivalent products from an insurance broker.
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 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.
Insurance that pays off the mortgage debt should you die.
Life insurance that pays the outstanding mortgage balance directly to the lending institution that holds the mortgage.
Mortgage life insurance provides coverage for your family should you die before your mortgage is paid off. This insurance can be 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.
Mortgage life insurance guarantees that the lender will receive its money in the event that you meet an untimely demise. Many people may try to convince you that you need this insurance to protect your dependents and loved ones. We recommend that you do not waste your time or money with this insurance! Mortgage life insurance is expensive. If you need life insurance, buy low-cost, high-quality term life insurance instead of mortgage life insurance.
Insurance that guarantees the mortgage will be paid in full if the borrower dies.
Term life insurance paid by the borrower in which the amount of coverage decreases as the mortgage balance declines. In the event the borrower dies while the policy is in force, the debt is automatically satisfied by insurance proceeds.
Mortgage Life Insurance (MLI) is inexpensive coverage on your life, which protects your family from beneficiaries by paying out your outstanding mortgage in the event of your death. For just pennies a day, you will have peace of mind knowing your beneficiaries will be mortgage free. MLI premiums are based on two factors, your age and mortgage amount. Your premium is added to your mortgage amount so there is no extra paperwork, and it remains the same until your mortgage is paid off. Joint coverage for spouses is also available.
A special type of insurance that will pay off a mortgage if the borrower dies before the debt is retired.
Insurance that pays off your mortgage debt in the event of your death.
Insurance that pays off the mortgage debt should the insured borrower die.
Insurance you can purchase to pay your mortgage in full should you die before it is paid off.
a form of term life insurance often bought by mortgagors.
A form of reducing term insurance recommended for the borrower. In the event of the death of the borrower or the co-borrowers, the insurance pays the balance owing on the mortgage. The intent is to protect survivors from losing their home.
Insurance under which the benefits are used to pay off the balance due on a mortgage upon the death of the insured borrower. The intent is to protect survivors from losing their homes.
A type of term life insurance specifying that in the event that the borrower dies while the policy is in force, the debt is automatically paid by insurance proceeds.
Life insurance that pays off the balance of the mortgage in the case of the borrowers death (i.e., if a spouse dies, the remaining spouse would not have to worry about mortgage payments - it would be paid in full).
A type of term life insurance often bought by home buyers. The coverage decreases as the mortgage balance declines. If the borrower dies while the policy is in force, the mortgage debt is automatically covered by insurance proceeds.
A term life insurance policy for the amount of the declining balance of a mortgage loan secured by a mortgage or deed of trust. The beneficiary under the policy is the mortgagee. In the event of death (some policies also cover disability) of the insured (mortgagor), the mortgage balance is paid in full.
A special type of term life insurance that will pay off a mortgage loan if the borrower dies before the debt repaid.
A form of reducing term insurance available for all mortgagors. In the event of a death of the owner or one of the owners, the insurance pays the balance owning onthe mortgage. The intent is to protect survivors from losing their home.
Insurance guaranteeing that the lender will receive its money in the dismal event that the borrower meets an untimely demise. Those who sell this insurance will try to convince you that you need this insurance to protect your dependents and loved ones. Don't waste your money -mortgage life insurance is relatively expensive compared to low-cost, high-quality term life insurance.
A life insurance policy which pays off the outstanding balance of a mortgage in the event of the death of the insured.
A term life insurance product specifically designed to pay off outstanding mortgage balances upon death of the insured. The beneficiary may be a family member, or the lienholder. See Decreasing Term. Back to the top of the page
This form of insurance is to protect the mortgagor by paying off the entire mortgage if the borrower dies. In the case of two borrowers, if one dies, the mortgage is paid and title reverts to the surviving borrower.
Insurance on the life of a borrower that pays off a specified debt it he dies; also called credit life.
A policy that guarantees repayment of the loan by the insurer if the borrower becomes disabled or dies.
A form of term life insurance which pays the balance of a mortgage debt upon the death of the subscribing borrower.
Usually a term life insurance policy acquired borrowers to cover their debt obligation in the event of death. As the principal balance on the loan decreases, the amount of coverage decreases as well.
A type of term life insurance often bought by mortgagors. In the event that the borrower dies while the policy is in force, the debt is automatically repaid by insurance proceeds. Not to be confused with mortgage insurance.
Mortgage Life Insurance is a form of insurance specially designed to protect a repayment mortgage. If the policyholder were to die while the mortgage life insurance was in force, the policy will pay out a capital sum that will be just sufficient to repay the outstanding repayment mortgage.