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Mortgage insurance is a type of insurance policy a mortgage holder takes out to provide protection for the home mortgage loan in case the mortgagee passes away. The death benefit from the mortgage insurance policy can be used to pay off the existing outstanding balance on the mortgage loan.

Burial insurance is a type of life insurance policy that provides a limited amount of coverage to help provide for the cost of your burial and related expenses. These plans may offer up to $25,000 of coverage with no health exam required, no health questions asked, and guaranteed approval for seniors.

Guaranteed life insurance is a type of life insurance plan that guarantees your approval as long as you meet the age requirements for coverage. Usually, there are no medical exams required and no health questions asked for guaranteed acceptance life insurance policies.

Term life insurance is life insurance that stays in effect for only a specific, limited period of time.Many term life policies offer life insurance coverage for a term of 10, 15, 20 25 or 30 years. If the insured dies within that period the beneficiary receives the death benefit. If the insured survives, the policy ends and the beneficiary receives nothing.

Life insurance is contract between the insured and the insurance company. The insured person pays premium to life insurance company in return for a specific amount of death benefit being paid to the insured's beneficiary upon the insured's death subject to the terms and exclusions of the policy.