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