Mortgage protection
Keep your family in the home you worked for.
Mortgage protection is term life insurance matched to your mortgage. If you pass away during the term, the policy pays a tax-free death benefit to your family, who can use it to pay off the mortgage, keep up payments, or cover other bills. The money goes to your family, not the bank, so they decide how to use it.
- Coverage matched to your loan: choose a 10, 15, 20, 25, or 30-year term to fit your mortgage
- Level premiums: your rate stays the same for the whole term
- Living benefits: many plans let you access part of the benefit for a terminal, chronic, or critical illness
- Return of premium options: some plans refund premiums if you outlive the term
- Simple approval: many plans need no medical exam; approval depends on your answers to health questions
Mortgage protection is life insurance. It is not issued by or connected with your lender or any government agency. Benefits, riders, and availability vary by carrier, state, and underwriting.
Just bought a home?
Mortgage protection is worth a look if you:
- Have a spouse, children, or family who depend on your income
- Would leave your family unable to make the payments
- Want coverage that goes to your family, not the lender
- Want protection if you become seriously ill
- Recently bought, refinanced, or took out a home equity loan