Investor Glossary-mortgage life insuranceInvestor Glossary-mortgage life insuranceInvestor Glossary-mortgage life insuranceInvestor Glossary-mortgage life insuranceInsightful stock market charts - Click here
investor
Categories    # 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 Life Insurance

The HTML to link to this page
 

Mortgage life insurance is a type of life insurance policy designed to fully indemnify a mortgage in the event of a borrower's death. In essence, mortgage life insurance is a form of term life insurance that typically covers the term of the mortgage. The primary purpose of mortgage life insurance is to prevent the survivors from loosing their home should the mortgage borrower die. Mortgage life insurance is also known as decreasing-term life insurance, since the mortgage life insurance coverage decreases over the life of the mortgage. Thus, if the mortgage borrower dies while the policy is in effect, the remaining balance is covered by the mortgage life insurance benefit. Mortgage life insurance may be purchased through lenders with premiums added to mortgage payments.



Rate this mortgage life insurance definition...

Learn about investing with the Investor Glossary Term of the Day


Click here for insightful stock market charts. Where is the market headed? The answer may surprise you. Find out
with the exclusive & Barron's recommended charts of Chart of the Day.


Popular Terms: quality assurance, minority interest, command economy, Zero Cost Collar, APR, annual return, Key Rate Duration, average price per share, ex-dividend date, phantom income, risk management, in escrow, EBITDA, diluted share, option premium, cancelled check, covered put, required rate of return, labor relations, VIX, balance sheet, current ratio, LIBOR, real GDP, 401a, debt service coverage, 1031 exchange, margin rate, 144a, liquidity ratio, class C shares, wholly-owned subsidiary, deferred tax, irrevocable trust, 1035 exchange, stock market close, deferred revenue, implied volatility, reverse mortgage, retained earnings, dividends payable, inflation, stock split, open position, limit order, ex-dividend, FICO score, FTSE, per diem


Accounting | Banking | Bonds | Brokers | Economy | Futures | Mutual Funds | Options | Real Estate | Retirement | Stocks | Taxes | Technical Analysis
Investor Glossary | Term of the Day | Suggest a Term | Chart of the Day | Dogs of the Dow
©2004-2016 Investor Glossary - All rights reserved - Terms of Use