Which of the below policy can provide protection to home loan borrowers?

A. Life Insurance

B. Disability Insurance

C. Mortgage Redemption Insurance

D. General Insurance

Answer: Option C

Solution(By Examveda Team)

Mortgage Redemption Insurance (MRI) is an insurance policy that provides financial protection for home loan borrowers. It is basically a decreasing term life insurance policy taken by a mortgagor to repay the balance on a mortgage loan if he/she dies before its full repayment.