US: A life or health insurance policy intended to pay off the balance of a mortgage upon death or to meet payments on the mortgage in case of disability. Also known as “mortgage redemption insurance.”
***
Life insurance that pays the balance of a mortgage if the mortgagor (insured) dies.
***
To cover default in repayment of loans for housing. This scheme is expected to accelerate housing finance activity by improving liquidity of institutions financing housing and by reducing the quantum of initial down payments by the borrowers.

A commercial auto policy introduced by Insurance Services Office, Inc. (ISO), in 1993 to address the needs of the motor carrier (i.e., trucking) industry. Coverages available include auto liability, trailer interchange, and auto physical damage; other coverages are available by endorsement. The policy was developed as an alternative to the truckers policy because of the changes taking place in the industry. That is, the truckers policy is applicable only for “for-hire” motor carriers, whereas the motor carrier policy is appropriate for all types of motor carriers—for-hire, private, or a combination of both types of operations.