Can I buy life insurance to pay off my mortgage on my house when I die?
Yes. There are mortgage life insurance plans you can purchase that will leave the death benefit to your beneficiary, who can use the money to pay off the mortgage loan on your house when you pass away.
Usually, term life insurance is used for mortgage protection death benefit coverage because it provides affordable rates and you decide who receives the proceeds from your life insurance policy.
You can select a policy term lasting for a duration of 10, 15, 20, 25 or 30 years to match the length of time your mortgage will last.
Learn more about buying mortgage insurance to pay off your house.
Yes. There are mortgage life insurance plans you can purchase that will leave the death benefit to your beneficiary, who can use the money to pay off the mortgage loan on your house when you pass away.
Usually, term life insurance is used for mortgage protection death benefit coverage because it provides affordable rates and you decide who receives the proceeds from your life insurance policy.
You can select a policy term lasting for a duration of 10, 15, 20, 25 or 30 years to match the length of time your mortgage will last.
Learn more about buying mortgage insurance to pay off your house.
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