Mortgage Protection Insurance
Keep your family in the home you worked so hard for.
Your mortgage is probably your family’s biggest monthly bill. If you passed away or became seriously ill, could they keep making the payments?
Mortgage protection is life insurance built around your home loan. If something happens to you, your family gets money they can use to pay off the mortgage or keep up the payments, so they don’t have to sell the house.
Get My Mortgage Protection Quote
Call (619) 614-6469
What your policy can include:
Money is paid to your family, not the bank. Your beneficiaries decide how to use it.
Living benefits. Many policies let you use part of the benefit early if you’re diagnosed with a qualifying critical, chronic, or terminal illness.
Optional riders. Return of premium, disability waiver, and others are available, depending on the carrier.
Coverage that stays with you. If you refinance or sell, the policy is still yours.
Mortgage protection vs. PMI
PMI protects your lender if you stop paying. It does nothing for your family. Mortgage protection protects your family: the money goes to the people you choose.
Who it’s for
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New homeowners and anyone who recently refinanced
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Families who rely on one or two incomes to make the payment
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Self-employed people and business owners without coverage through work
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Anyone whose coverage through work wouldn’t cover the mortgage
FAQ
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Do I need a medical exam? Often not. Many carriers approve based on health questions alone. Larger amounts or some health histories may need an exam.
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Is this the same as PMI? No. PMI pays the lender. Mortgage protection pays your beneficiaries.
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What happens if I sell or refinance? The policy belongs to you, not the loan, so it stays in force as long as premiums are paid.
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How much does it cost? It depends on age, health, tobacco use, coverage amount and term length. The younger and healthier you are, the less you pay.
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How much coverage do I need? Most people start with their mortgage balance. Some add income replacement on top.
