{"id":32260,"date":"2024-04-15T08:58:41","date_gmt":"2024-04-15T08:58:41","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=32260"},"modified":"2024-04-15T08:58:41","modified_gmt":"2024-04-15T08:58:41","slug":"which-of-the-below-policy-can-provide-protection-to-home-loan-borrowers","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-below-policy-can-provide-protection-to-home-loan-borrowers\/","title":{"rendered":"Which of the below policy can provide protection to home loan borrowers?"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Life Insurance&#8221; option2=&#8221;Disability Insurance&#8221; option3=&#8221;Mortgage Redemption Insurance&#8221; option4=&#8221;General Insurance&#8221; correct=&#8221;option3&#8243;]<!--more--><\/p>\n<p>The correct answer is C. Mortgage Redemption Insurance.<\/p>\n<p>Mortgage Redemption Insurance (MRI) is a type of insurance that helps to protect home loan borrowers in the event of death or disability. If the borrower dies or becomes disabled, MRI can help to pay off the remaining balance on the mortgage, so that the borrower&#8217;s family or estate is not left with a large debt.<\/p>\n<p>Life insurance is a type of insurance that pays out a death benefit to the beneficiaries of the policy in the event of the insured person&#8217;s death. Disability insurance is a type of insurance that pays out a monthly benefit to the insured person if they become disabled and unable to work. General insurance is a broad term that refers to a variety of types of insurance, including property insurance, liability insurance, and health insurance.<\/p>\n<p>MRI is a specific type of insurance that is designed to protect home loan borrowers. It is not the same as life insurance, disability insurance, or general insurance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Life Insurance&#8221; option2=&#8221;Disability Insurance&#8221; option3=&#8221;Mortgage Redemption Insurance&#8221; option4=&#8221;General Insurance&#8221; correct=&#8221;option3&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[261],"tags":[],"class_list":["post-32260","post","type-post","status-publish","format-standard","hentry","category-insurance","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Which of the below policy can provide protection to home loan borrowers?<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-below-policy-can-provide-protection-to-home-loan-borrowers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Which of the below policy can provide protection to home loan borrowers?\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;Life Insurance&#8221; 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