What is the name of the insurance that I am wanting?
My husband and I are homeowners.
I am wanting to purchase the type of insurance that - in the event that one of us dies - the insurance will PAY OFF our mortgage. What is this insurance called?
insurance best answer:
Answer by Caveat Emptor
Life insurance. There are also restricted forms of term life insurance called "mortgage life insurance" that do specifically what you ask, but you're better off getting standard life policies.
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Figure 8: Insurance Against Moral Hazard (http://crism.mccombs.utexas.edu/iiar-project antispam@quarterman.com)
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Orignal From: What is the name of the insurance that I am wanting? and Figure 8: Insurance Against Moral Hazard (http://crism.mccombs.utexas.edu/iiar-project antispam@quarterman.com)
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