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_________ life insurance pays off a policyholder's mortgage in the event of the person's death.
Answer & Solution
Correct Answer:
Option
B
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.
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