mortgage life insurance

mortgage life insurance definition - business

mortgage life insurance

Decreasing term life insurance with coverage that pays the outstanding principal on a mortgage. Mortgage life insurance is generally purchased on the life of the family breadwinner so the mortgage will be paid off in the event the breadwinner dies.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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