If death of the borrower occurs, the heirs / estate may repay the loan from the sale of the home or refinance the home. (7thlvl.com)
Financial hardships come in a number of forms, but some of the most common examples are job loss, medical illness, divorce, or death of a borrower on the loan. (ckcapitalmanagement.com)
Mortgage life insurance policy / mortgage title insurance / Home Loan Protection Plan (HLPP) is a policy that covers the borrower against the non-payment of EMI in case of death of the borrower. (policybazaar.com)