You may not need life insurance for your mortgage - life insurance is for people you leave behind, not your bank.
Mortgage protection insurance pays the money to the loan provider if you die before the home loan is paid off.
Mortgage term life insurance pays your beneficiary if you die. The beneficiary can use the money to pay off the mortgage loan, or for any other purpose.
But decreasing term life insurance usually costs a lot more than level term life insurance which you can get for up to 30 years to provide the protection you need to pay off the mortgage.
Also, level term life insurance has premiums that stay the same each year of the term, and the amount of life insurance does not decrease over time, as it does with decreasing term life insurance.
Learn more about mortgage term life insurance and how it works.