It's a type of life insurance plan that provides the money to your beneficiary to pay off the remaining balance owed on your home mortgage loan in case you die before the mortgage is fully repaid.
Many homeowners buy a mortgage death protection life insurance policy to guarantee their loved ones can remain in the home they shared should the main breadwinner die unexpectedly.
Make sure to select a policy with a duration of coverage (term) lasting for the length of time your mortgage will last.
Also, choose an amount of life insurance equal to the amount you currently owe on your mortgage loan.
Here's how to learn more about mortgage death protection insurance.