General insurance Does insurance company pay for mortgage

[Phabbyfundz]

A mortgage is a special form of loan where the purchase of the loan must be specified to the lender to purchase assets that must be fixed (not moveable) such as a house or piece of farm land. The assets are registered as the legal property of the borrower,but the lender can seize them and dispose of them if they are not satisfied with the manner in which the repayment of loan is conducted by the borrower.
Once the loan is fully repaid the borrower losses right to seizure. But In times when the borrower cannot meet up with the repayment of the loan and is under threat of seizure of their property would their insurance company help to repay the loan or mortgage fees for their clients who has purchased an insurance plan or policy with them .

 

[btaliat]

You don't invest in insurance on something that is not yours. You don't obtain insurance on debt or let say betting as well. There are some of the things that cannot be measured and insurance company don't always go far to associate themselves with that. So there is no possibility that insurance will cover loan from mortgage banks.

 

[Mandy96]

As we all know what mortgage is really all about, I think if you ask me, I will say they could pay for it and that depends on the kind of policy the individual opted for. I’m very sure that there is one called mortgage life insurance. So even without any explanation, you should know the insurer would surely provide financial coverage for it

 

[Augusta]

You don't invest in insurance on something that is not yours. You don't obtain insurance on debt or let say betting as well. There are some of the things that cannot be measured and insurance company don't always go far to associate themselves with that. So there is no possibility that insurance will cover loan from mortgage banks.

You are right I think I have read a thing like this that there are some things that insurance company don't cover,the mortgage might just be one of it. Insurance company go for things that are easily measurable so that the right premium can be ascertained so that the client can start paying