Mortgage Protection
Keep your loved ones where memories are made.
Affordable life insurance designed to cover
your mortgage payments
Request a Mortgage Protection Quote Today
Mortgage Protection
Mortgage protection insurance is a type of term life insurance that is designed to pay off your mortgage in the event of your death. It functions like a standard term life policy: You purchase a policy for a set period, make monthly payments, and if you pass away while the policy is in force, your chosen beneficiary receives funds to pay off your mortgage. This coverage ensures that your family could stay in their home if you were no longer able to contribute to mortgage payments.
Mortgage protection insurance is right for you if you want to:
Protect your most valuable asset
Ensure your loved ones never have to deal with the fear of losing their home
Provide financial security if the unthinkable happens
Frequently Asked Questions
Q: How does mortgage life insurance differ from homeowner’s insurance?
Both types of insurance can be necessary for homeowners. While homeowner’s insurance is important to cover personal liability and property damage, such as damage from weather, theft or vandalism, mortgage protection insurance covers your mortgage payments if you were no longer able to.
Q: How much is mortgage protection insurance?
Mortgage protection insurance is generally the least expensive type of life insurance to pay off your mortgage.
Mortgage protection vs homeowners insurance
Mortgage Protection Insurance:
Makes your premiums in case of job loss*
Money goes to your family
Pays your mortgage if you become sick or injured
Money your family receives is tax free
Is portable - new home? It travels with you
*Available in most states. Limitations may apply. Benefits and carriers will vary for coverages and are subject to underwriting approval, product limitations and availability.
Homeowners Insurance Covers:
Damage to your home in severe weather conditions
Theft of your belongings
Vandalism of your house and property
Fire damage to your home
Personal injury lawsuits if someone gets hurt on your property
Q: Do I need mortgage protection insurance?
None of us can know when we’ll pass away or become critically ill or disabled. If you are a homeowner or in the process of buying a home, it makes sense to apply for mortgage protection insurance coverage today.
Q: Can I afford mortgage protection Insurance?
Mortgage protection is one of the most inexpensive types of insurance, and it’s often a more affordable option than purchasing a separate whole life policy to pay off your mortgage in the event of your death.