Mortgage Redemption Insurance is nothing but

A. It is a constant term insurance

B. It is an increasing term insurance

C. It is savings insurance like universal life insurance

D. Decreasing Term Insurance

Answer: Option D

Solution(By Examveda Team)

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.