MLchartDataset catalogue

Joint mortgage protection insurance

Term · Insurance and risk management · MLC-T-INS-001933

A form of life insurance designed to cover the outstanding balance of a mortgage for two or more borrowers. In the event of the death of one of the insured individuals, the policy pays out a lump sum to cover the remaining mortgage debt. This policy is typically structured as a decreasing term life insurance, with the coverage amount reducing as the mortgage balance declines.

Table 1. Record
IdentifierMLC-T-INS-001933
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-001933",
  "term": "Joint mortgage protection insurance",
  "field": "Insurance and risk management",
  "definition": "A form of life insurance designed to cover the outstanding balance of a mortgage for two or more borrowers. In the event of the death of one of the insured individuals, the policy pays out a lump sum to cover the remaining mortgage debt. This policy is typically structured as a decreasing term life insurance, with the coverage amount reducing as the mortgage balance declines.",
  "url": "https://mlchart.com/terminology/insurance/joint-mortgage-protection-insurance/"
}

Record 1,854 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.