Credit life insurance

A Type of Insurance, often bought by Mortgagor, in which the amount of the Policy matches the loan Balance at any given time; designed so that the Loan will be Paid off in Full in the event of death.

Related Terms: 8 Balance, Full, Insurance, Loan, Mortgagor, Policy, Paid, Type

Other Related Pages: Category: Insurance Starting With: C

Additional Related Terms: Adjusted balance method, Account balance, Average daily balance, Average daily balance method, Accrual of discount, Amortization of premium, At par, All or any part, At best, At call