What is the Benefit of a Mortgage Insurance Policy?

The benefit of a mortgage life insurance is that in the event of the death of the policyholder, your family will receive benefits to pay off the mortgage on your home.

By providing your family with mortgage insurance protection you make sure they can remain in the home they shared with you should you die.

In addition, mortgage insurance gives you peace of mind knowing your family will be protected and have a home in case you pass away.

You can choose mortgage insurance for a term (duration) that matches the length of your home mortgage, from 10 to 30 years.

In addition, you'll want to select an amount of mortgage insurance that matches the amount outstanding on your home mortgage loan so enough money is provided to payoff the loan in full.

Learn more about the benefits of mortgage insurance