Moneycontrol
YOU ARE HERE > Moneycontrol > Insurance > Glossary

Insurance

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Mortgage insurance

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 pol-icyholder who becomes involuntarily unemployed.

FAQs:
Sections
Follow us on
Available On
PCI DSS Compliant