Cheapest form of term insurance that protects the home owners for the loan amount loaned from a mortgagee, usually a bank, when death or disability that occur to either one of the home owners, to protect the 1 of the most important asset they own, it also gives a peace of mind to home owners, knowing everything is well-taken care of.

Usually the sum issued will be on a ‘decreasing term’, according to your repaid loan amount to the mortgagee.