In comparison to an equivalent amount of term insurance,mortgage life insurance

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Mortgage life insurance usually costs more compared to an equivalent amount of term insurance because the coverage amount remains the same throughout the policy term, whereas the mortgage balance decreases over time. The premiums for mortgage life insurance remain the same, whereas term insurance premiums may increase over time. Additionally, the beneficiary of the mortgage life insurance policy is the mortgage lender, not the policyholder's family or estate.

In Comparison to an Equivalent Amount of Term Insurance,mortgage Life