The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

MORTGAGE LIFE INSURANCE Definition & Legal Meaning

Definition & Citations:

In the event the borrower dies before paying off the mortgage, this term life insurance pays off the home mortgage balance. It is bought to protect the family from losing its home and is paid for by the borrower/mortgagor.


This article contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.