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

Correct Answer: Mortgage Redemption Insurance

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.
Bissoy MCQ
#Commerce #Insurance

Related Questions

If both policy loan and premiums are not paid, the outstanding loan/interest may exceed the policy’s cash value. What would the insurer do in such an eventuality?
A Surrender
B Revival
C Cancellation
D Foreclosure
Choose the alternatives that best replace the quotation words in the following sentences : Micro-credit has been serving the purpose of borrowers who cannot provide the "collateral".
A money
B repayment
C interest
D pledge
How is a policy loan different from a commercial loan?
A There is no legal obligation to repay a policy loan
B In case of policy loan, there is no need for a credit check
C Both A & B
D None of the three
You create home directories for users Jan and Kim on a Windows NT Server computer. Jan works on a Windows NT Workstation computer. Kim works on a Microsoft Windows for Workgroups computer. After they log on, Jan can access her home directory, but Kim cannot access her home directory. What should you do?
A Start the Replication service on Kim's Windows for Workgroups computer
B Relocate Kim's home directory to her Windows for Workgroups computer
C Map a drive on Kim's Windows for Workgroups computer to her home directory on the server
D You cannot do this. Home directories can be accessed only by Windows NT computers
Answer the question on the basis of the given information. Businesses are suffering because of lack of money available for development loans.To help businesses,the government plans to modify the income- tax structure in order to induce individual tax payers to put a larger portion of their incomes into retirement savings accounts, because as more money is deposited in such accounts, more money becomes available to borrowers. Which of the following, if true, raises the most serious doubt regarding the effectiveness of the government's plan to increase the amount of money available for development loans for businesses?
A When levels of personal retirement saving increase, consumer borrowing always increases correspondingly.
B The increased tax revenue the government would receive as a result of business expansion would not offset the loss in revenue from personal income taxes during the first year of the plan.
C Even With tax incentives,some people will choose not to increase their levels of retirement savings .
D Bankers generally will not continue to lend money to Businesses whose prospective earnings are insufficient to meet their loan repayment schedules.
Financial corporations which serve individual savers and commercial mortgage borrowers are classified as
A savings associations
B loans associations
C preferred and common associations
D savings and loans associations
What is the maximum lending rate to be offered to industrial borrowers as was directed by the central bank of Bangladesh recently?
A 12%
B 13%
C 14%
D 15%
What is the maximum lending rate offered to industrial borrowers as was directed by the central bank of Bangladesh?
A 12%
B 13%
C 14%
D 15%
The practice of charging interest to borrowers who pledge their property as collateral but leaving them in possession of the property is called _________.
A Security
B Mortgage
C Usury
D Hypothecation
মুদ্রাস্ফীতির ফলে ঋণগ্রহীতার ওপর কী প্রভাব পড়ে? (What effect does inflation have on borrowers?)
A প্রভাব নেই (No effect)
B ক্ষতিগ্রস্ত হয় (Become looser)
C লাভবান হয় (Become benefitted)
D নেতিবাচক প্রভাব (Negative effect)

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