_________ life insurance pays off a policyholder's mortgage in the event of the person's death.

A. Term

B. Mortgage

C. Whole

D. Endowment

Answer: Option B

Solution(By Examveda Team)

Mortgage life insurance pays off a policyholder's mortgage in the event of the person's death. This protects a mortgage holder's heirs in the event of his/her untimely demise. If the beneficiary dies after he/she has finished paying for the house, no mortgage life insurance is paid out.