Mortgage Protection Insurance
Your home may be your family's largest asset. A term life policy sized to your mortgage can help them stay in it after you're gone.
Mortgage protection
Use term life insurance to pay off your mortgage
Your home may be your family's largest asset and their largest financial responsibility. A mortgage protection policy can help them remain in your home after you're gone.
- Coverage sized to at least your mortgage balance
- Your loved ones receive the face value
- Proceeds are often tax free
- Helps your family stay in the home
30 yearsIndependent Florida broker
How it works
Three steps to protect your home
01
Buy a term life policy
Choose coverage for at least the amount of your mortgage.
02
Keep the policy in force
Pay regular premiums for the term of the policy.
03
Your family is protected
If you pass away during the term, they receive the face value to pay off the mortgage.
Your family decides
The money can be used for any purpose
Proceeds go to the beneficiaries you choose, and they decide how to use them.
- Pay off the mortgage in full
- Keep a low-rate mortgage and clear high-interest credit card debt
- Pay for home maintenance and upkeep
Know the difference
Term life insurance vs. mortgage life insurance
Term life insurance
- Your chosen beneficiaries receive the benefit
- Level benefit for the term of the policy
- Level premium for the term of the policy
- Proceeds can be used for any purpose
Mortgage life insurance
- Your mortgage lender is the beneficiary
- Your survivors see none of the proceeds
- Policy value decreases as the mortgage balance falls
- Premiums may stay the same while value drops
Talk to a broker
See what mortgage protection could cost you
Get an estimate of the coverage you may need and a mortgage protection quote on our partner quote form.
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