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Mortgage Protection Insurance

Buying a home is an exciting milestone, and one that you have worked hard to achieve. Our specialists will guide you on the best Term product to ensure your new investment and the equity built within that investment will not burden your family in case of your unexpected death, disability, or critical illness. With a mortgage life insurance policy in place, heirs won’t have to worry or wonder what might happen to the family home.

There are two basic types of mortgage life insurance:

Decreasing term insurance, where the size of the policy decreases with the outstanding balance of the mortgage until both reach zero.
Level term insurance, where the size of the policy does not decrease. Level term insurance would be appropriate for a borrower with an interest-only mortgage or someone who needs to maintain a level death benefit.

Advantage of Mortgage Life Insurance

With some exceptions, most traditional life insurance policies will not pay out unless you die within your coverage period. Most mortgage life insurance policies, on the other hand, offer coverage that works if you become disabled or unable to work, which makes this type of insurance a bit more versatile than a traditional Term or Whole Life policy.

Mortgage Protection FAQ

When Mortgage Protection is bought does it stay with the home?

No. the policy you get to cover the amount owed on the mortgage will move with you. You might have your insurance agent look to see if the policy is adequate coverage for your new home you are moving to or if more coverage is needed.

Mortgage Protection Insurance

There are two basic types of mortgage life insurance:

Advantage of Mortgage Life Insurance

Mortgage Protection FAQ

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