How much does mortgage life insurance cost per month?

Mortgage life insurance is a type of life insurance plan that people purchase to help provide the funds to pay off their outstanding mortgage in case they die.

A mortgage life insurance policy usually lasts for the length of time you have a mortgage. So, if you have a 30 year mortgage loan, you would purchase mortgage life insurance with a term of 30 years of protection.

There are several factors that impact the cost of your mortgage life insurance, including the length of term, and the amount of coverage.

In addition, your own personal risk factors will affect the price you pay for your insurance. These risk factors may include your age, health, lifestyle, tobacco use, driving record, hobbies, occupation, height-to-weight ratio, and family health history, among others.

Keep in mind, it usually costs less if you pay your premiums annually (once per year), instead of choosing monthly premium payments.

Here's how you can learn more about mortgage insurance and compare mortgage life insurance rates online today.