Stepping into homeownership is a monumental milestone, but it also comes with the significant financial responsibility of a long-term debt. To safeguard this investment, first-time buyers often turn to mortgage term life insurance, a specialized type of life insurance policy designed specifically to cover the outstanding balance of a home loan. If the policyholder passes away during the term, the insurance payout is intended to pay off the remaining mortgage, ensuring that surviving family members can keep the home
