How it works
- Coverage amount is usually based on your loan balance or your monthly payment.
- Term length is often matched to the years left on the loan.
- Your beneficiaries receive the money and decide how to use it.
Why families choose it
The house is often a family's biggest bill. Losing an income can force a sale at the worst time. Mortgage protection is a simple way to help the people you love stay put.
Optional living benefits
Some policies offer riders that may let you access part of the benefit early if you're diagnosed with a qualifying critical, chronic or terminal illness. Availability, cost and terms vary by policy and state.
How much would cover your mortgage?
Our free mortgage coverage calculator uses your balance and payment to estimate the coverage to look at.
Related free tools
Common follow-up questions
Is mortgage protection required?
No. It's optional and not required to get or keep your home loan.
Does the money go to my lender?
No. It's paid to the beneficiaries you name.
Is it the same as PMI?
No. PMI protects your lender if you stop paying. Mortgage protection life insurance pays your family.
What if I refinance or move?
Because it's your own life insurance policy, it generally stays with you.
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