Mortgage Redemption Insurance (10.3)

Mortgage Redemption Insurance (10.3)



in this last video of the lesson applications of life insurance we will learn about various aspects of mortgage redemption insurance Act it is an insurance policy that provides financial protection for home loan borrowers it can also be called as a loan protector policy some of its key features are first it is a decreasing term life insurance policy second it helps mortgage ur to repay the balance on a mortgage loan if he or she dies before its full repayment third this plan is suitable for elderly people whose dependents may need assistance in clearing the depths fourth the policy bears on surrender value or maturity benefits and lastly the insurance cover under this policy decreases each year unlike a term insurance policy where insurance cover is constant during the policy period here is a quick look at the topics covered in this chapter thank you

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