Definitions for "Mortgage disability insurance"
Keywords:  disabled, unable, ill, event, pay
A specific type of disability income insurance that pays benefits (often directly to the mortgage holder) during a total disability of the insured, or until the mortgage is paid up.
Insurance that pays the mortgage installments should the insured borrower become ill or disabled and unable to work.
In the event of a disability of an insured borrower for a specified period of time, this is an insurance policy which will pay the monthly mortgage payment.