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


Accounting | Banking | Bonds | Brokers | Economy | Futures | Mutual Funds | Options | Real Estate | Retirement | Stocks | Taxes | Technical Analysis
Home | 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