An insurance policy designed specifically to repay mortgage debt in the event of the death or disability of the borrower. Mortgage insurance is a policy that protects a mortgage lender or title holder in the event that the borrower defaults on payments, dies, or is otherwise unable to meet the contractual obligations of the mortgage.
- Death due to any cause – death occurring during the period of insurance due to illness, sickness, disease, natural causes or by accident.
- Permanent Total Disabilities – being totally and permanently disabled under a “Suitable Occupation” definition of disability, only if that life, due to accident, has been rendered disabled to such an extent that he / she is unable to perform any occupation for which he / she is suited by education, training or experience.
- Permanent Partial Disability – as per scale.
- Passive War.