Mortgage Life Insurance - How does it work?
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Mortgage life insurance is a type of life insurance policy that will pay off your mortgage in the event of your death. It works by providing a lump sum payment to your mortgage lender so that your mortgage can be paid off in full.
This type of insurance ensures that your family is not burdened with the burden of your mortgage in the event of your death. Mortgage life insurance can provide peace of mind to you and your family.
Key questions to ask regarding mortgage life insurance include: what is the amount of coverage I need; what is the cost of the policy; how long will the policy last; and what are the eligibility requirements?