The price you pay for mortgage insurance is called the "Premium".
Usually, premiums are paid monthly, quarterly, or annually.
To determine the premium, you take the rate per $1,000 of coverage and multiple it by the amount of insurance you need.
Your rate is based on your several risk factors including your age, gender, health, occupation, hobbies, lifestyle, tobacco use, driving record, etc.
Once your rate is determined, you multiple by the amount of insurance.
So, if your rate is $3 per $1,000 of coverage and you need $200,000 of insurance, your premium would be 3 X 200 = $600.
Make sure you compare pricing among several leading insurers before selecting your policy.
Prices can and do vary by insurance company.
You can request and compare free quotes for mortgage life insurance by visiting an insurance website and filling out a short Quote Request Form.