It is a constant term insurance
It is an increasing term insurance
It is savings insurance like universal life insurance
Decreasing Term Insurance
✅ The correct answer is D.
Mortgage Redemption Insurance is nothing but decreasing Term Insurance. An MRI is a form of life insurance that pays off a part or the whole of the insured’s outstanding mortgage balance in case of his or her death or total disability.
Mortgage Redemption Insurance is nothing but decreasing Term Insurance. An MRI is a form of life insurance that pays off a part or the whole of the insured’s outstanding mortgage balance in case of his or her death or total disability.