This is essentially an assurance policy that pays an amount of money on death to protect the family of the borrower and cover any outstanding mortgage repayments.
An insurance policy which will pay off a fixed amount of money on the death of an individual. (Also see Serious Illness)
Diminishing term life assurance which is designed to pay off the mortgage in the event of death.
This is a special insurance policy which is taken out by the policy mortgagor for the period of a mortgage repayment to cover the eventuality of the mortgagor dying before the repayment term is complete. Insurance may also be available to protect your repayments in the event of job redundancy.
An inexpensive type of diminishing term life assurance designed to provide a lump sum in the event of death. The sum is usually just sufficient to discharge the mortgage.