Insurance

Mortgage insurance

Let's discuss a type of insurance that is specifically designed to cover the life of an individual who has taken out a mortgage. This form of insurance is known as decreasing term insurance and its purpose is to provide death benefits that can be used to pay off the remaining balance of a mortgage. As the name suggests, the coverage amount decreases as the debt decreases. However, there is also a variant of this insurance called mortgage unemployment insurance, which offers coverage for the mortgage in case the policyholder becomes involuntarily unemployed.

Related terms

All-risk agreement

Understand the meaning and definition of All-risk agreement in the context of stock market, trading, and investments.

MORE
Theft insurance

Understand the meaning and definition of Theft insurance in the context of stock market, trading, and investments.

MORE
Cash value option

Understand the meaning and definition of Cash value option in the context of stock market, trading, and investments.

MORE
Loading

Understand the meaning and definition of Loading in the context of stock market, trading, and investments.

MORE
Direct loss

Understand the meaning and definition of Direct loss in the context of stock market, trading, and investments.

MORE
Open Free Demat Account!

Join our 3.5 Cr+ happy customers

+91
Explore other categories
Enjoy Zero Brokerage on Equity Delivery
4.4 Cr+DOWNLOADS
Enjoy Zero Brokerage On Stock Investments

Get the link to download the App

Get it on Google PlayDownload on the App Store
Open Free Demat Account!
Join our 3.5 Cr+ happy customers