What is a 15 year mortgage is best protected by what kind of life policy?

A 15 year mortgage is typically best protected by a decreasing term life insurance policy.

A decreasing term life insurance policy is a type of life insurance policy where the death benefit decreases over time, usually in line with the outstanding balance of the mortgage. This means that as you pay off your mortgage, the amount of coverage provided by the policy decreases.

This type of policy is specifically designed to cover the remaining balance of the mortgage in the event of the policyholder's death, ensuring that their family or beneficiaries are not left with the burden of paying off the mortgage.

By selecting a decreasing term life insurance policy that aligns with the term of your mortgage, you can ensure that your loved ones are protected financially in the event of your death, and that the mortgage will be paid off without placing a financial strain on your family.