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In order to secure a mortgage, banks often ask their customers to purchase a life-insurance policy. This ensures that, in the case of a serious accident, the borrower will be able to repay the loan or, in the unfortunate event of the borrower’s death, that his heirs are not liable to pay any debts incurred by the mortgage. Is it …
Read More »Is life coverage mandatory when you take out a mortgage loan? Bank of Spain Responds – CSN News
