________ life insurance can only by used to pay off a home in the event of the policyholder's death.

Question

Quizplus · Accepted Answer

Mortgage life insurance is designed to specifically pay off the balance of a policyholder's mortgage in the event of their death. It is often offered as an add-on to a traditional mortgage and typically decreases in coverage amount as the mortgage balance is paid down. It is not meant to be used for any other purpose besides paying off the mortgage.

________ Life Insurance Can Only by Used to Pay Off