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


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