Mortgage Life Insurance or Term Life Insurance: What is The Difference
Mortgage Life Insurance also known as Mortgage Protection Insurance (MPI), is designed for one purpose, to pay off the debt on a mortgage if the owner passes away while paying down the loan on their property. Now, term life insurance can be used for any purpose, including but not limited to a mortgage payoff. Under most circumstances, a term life insurance policy is a better choice and offers a lot more options. In this article, …
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