Mortgage Protection
Life insurance designed to help your family pay off or keep up with the mortgage if something happens to you.
What It Is
Mortgage protection is life insurance, usually term or permanent coverage, that's designed around your mortgage so your family can keep the home if you pass away. The benefit goes to your beneficiaries, not the lender, so they decide how to use it.
Who It's For
Homeowners who want to make sure their family can stay in their home.
Key Features
- Coverage amount and term can be matched to your mortgage.
- The benefit is paid to your beneficiaries, who decide how to use it.
- Some plans offer living benefits or return-of-premium options; availability varies.
- No-medical-exam options are available for some applicants; eligibility varies.
Frequently Asked Questions
Is This the Same as PMI?
No. Private mortgage insurance protects the lender. Mortgage protection life insurance pays your beneficiaries.
Does the Benefit Have to Go to the Mortgage?
No. Your beneficiaries receive the benefit and can use it as they choose.
Can I Get Coverage If I Already Have a Mortgage?
Yes, many people apply after buying their home. Eligibility varies.
General information only, not a contract or offer. Terms, benefits, and availability vary by carrier, plan, and state.
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