Question

describe mortgage protection life insurance. (1 point)

an insurance that pays out when there is an accidental death or loss of functionality

a contract between the lender and borrower which cancels all or part of a loan due to a significant event such as death, loss of job, disability

a contract that helps pay for repair or replacement due to normal use once the object is outside the original coverage period

a type of insurance that pays off the balance of a mortgage in the event of the death of the mortgage holder

Explanation:

Mortgage protection life insurance is specifically designed to cover the remaining mortgage balance if the policyholder (mortgage holder) passes away, ensuring the debt is settled for their estate or family. The other options describe different insurance types: accidental death insurance, loan protection insurance (broader than mortgage-specific), and extended warranty/repair insurance.

Answer:

D. a type of insurance that pays off the balance of a mortgage in the event of the death of the mortgage holder