Life mortgage and/or unemployment insurance is mandatory in some banks and optional in others. Very often, however, lenders make the granting of a mortgage loan conditional on the purchase of insurance for it. If mortgage insurance is optional, the bank may offer better terms to the borrower after purchasing it. The latter are not the only benefit that mortgage insurance provides. In the event of the borrower's death, such insurance protects the borrower's family against the inheritance of debt. Mortgage insurance, on the other hand, will ensure continuity in repayment of installments for the period specified in the contract, which can protect the borrower from the loss of property caused by mortgage debts.
Detailed information on mortgage insurance can be found in the documents below.