Term life insurance to take on mortgage repayment??

The answer to the question whether one must opt for a term life insurance cover that will take care of the mortgage payment in case of untimely death is one that has to be answered on the basis of the individual facts and circumstances.

The biggest advantage of doing so is to provide financial security to the survivors after one’s death.

If only the mortgage has to be covered, it is best to opt for a term life insurance policy where death benefit decreases as mortgage is repaid.