If you own a home and have a mortgage on your home you may be considering the purchase of a mortgage life insurance policy.
Mortgage life insurance can help give you the peace of mind knowing your family will be able to remain in the home they shared with you should you pass away.
Life insurance to protect a mortgage loan provides you with the amount of coverage your family needs to pay off any outstanding mortgage loan balance on your home should you die.
How does it work:
If you pass away during the term of your mortgage life insurance policy your beneficiary receives the death benefit and can use the proceeds to pay off the home mortgage loan.
Mortgage insurance protects you, your family and your home if the unexpected happens. Learn more about life insurance for mortgages
Mortgage life insurance can help give you the peace of mind knowing your family will be able to remain in the home they shared with you should you pass away.
Life insurance to protect a mortgage loan provides you with the amount of coverage your family needs to pay off any outstanding mortgage loan balance on your home should you die.
How does it work:
- You select the amount of life insurance that matches your mortgage loan.
- You select a "term" that is equal to the duration of your mortgage loan.
- You name your spouse or family member as the beneficiary of your mortgage life insurance plan.
If you pass away during the term of your mortgage life insurance policy your beneficiary receives the death benefit and can use the proceeds to pay off the home mortgage loan.
Mortgage insurance protects you, your family and your home if the unexpected happens. Learn more about life insurance for mortgages
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