Life coverage sized to pay off your home
Mortgage protection is term life insurance designed to pay off — or keep up with — your mortgage if you pass away, so your family can stay in the home. It’s a focused way to make sure the roof over their heads is secure.
You can buy mortgage protection as a stand-alone product, but a regular level-term policy for the mortgage amount often does the same job with more flexibility — the payout goes to your family (not the lender), and they decide how to use it. We’ll compare both so you get the best value.
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Yes. Private mortgage insurance (PMI) protects the lender if you default. Mortgage protection life insurance protects your family by paying a death benefit that can clear the loan. They serve completely different purposes.