What is Mortgage Protection Insurance?

Mortgage Protection Insurance is a life insurance policy designed to pay off your mortgage in the event of your death. This helps ensure that your family can stay in their home without the burden of mortgage payments during a difficult time.

How Does It Work?

• You purchase a life insurance policy with a benefit amount equal to your mortgage balance.
• If you pass away, the death benefit can be used to pay off your mortgage directly.
• This keeps your home secure and in your family’s hands—no foreclosure, no displacement.

Why Choose Mortgage Protection?

• Peace of mind knowing your family won’t lose their home.
• Coverage can include disability and critical illness benefits.
• High approval rates with simplified underwriting (no medical exam in many cases).
• Portable policy — stays with you even if you refinance or move.

Who Is It For?

This type of insurance is ideal for anyone with a mortgage who wants to ensure their home stays in the family should the unexpected happen. It’s particularly important for young families, single-income households, and new homeowners.

FAQs

Does the benefit go directly to the lender?
No, the benefit goes to your named beneficiary, who can use it to pay off the mortgage or for any purpose.

Is this the same as PMI (Private Mortgage Insurance)?
No. PMI protects the lender—not you or your family. Mortgage Protection protects your loved ones.