For example The terms of the mortgage were that his life had to be assured. Show source/s Plain English Campaign Give feedback This page is not useful This page is useful Thank you for your feedback. If you have another few minutes please take the time to tell us about our new Dictionary service. Thank you for your feedback. If you could tell us more, it would really help. Submit
Mortgage Using property as security for a debt. It is also the name for the contract which is signed by the borrower and lender when money is lent using property as security for a loan.
Life assurance policy (or life insurance policy) A contract between a policyholder and an insurance company. The insurance company pays out if the policyholder dies.