Owning a home has always been one of the ultimate goals of every Filipino. It may cost an arm and a leg, but it’s totally worth it once you own one. It also forces you to learn various concepts related to buying a home, from mortgages to housing loans.

Such terms include mortgage redemption insurance (MRI). Before you dismiss this as another insurance type to worry about, take time to learn about MRI basics in this short guide. Just like other insurance types, you might need an MRI in the future.

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