One of the most popular types of mortgage payoff life insurance coverage is level term life insurance.
Level term allows you to select life insurance that matches the duration of your mortgage loan - 15, 20 or 20 years.
And, by selecting an amount of life insurance that matches the amount owed on your mortgage, you can make sure that your beneficiary (spouse/family) has the money needed to pay off the remaining balance on your home mortgage should you pass away.
With level term life insurance you may the same amount for coverage each month for the life of your policy.
Learn more about life insurance for mortgage payoff.