Q409
_________ life insurance pays off a policyholder's mortgage in the event of the person's death.
A.
Term
B.
Mortgage
AnswerC.
Whole
D.
Endowment
Answer: Option B
Solution
Answer: Option B
Solution:
Mortgage life insurance pays off a policyholder's mortgage in the event of the person's death. This protects a mortgage holder's heirs in the event of his/her untimely demise. If the beneficiary dies after he/she has finished paying for the house, no mortgage life insurance is paid out.