Life Insurance to Cover Mortgage Balance

Is there life insurance to pay off the balance on my mortgage?

Yes. There are term life insurance policies available that can help to provide the funds needed to pay off your remaining balance on your mortgage should you die before it is fully repaid.

Term life allows you to select coverage for a duration of 10, 15, 20, 25 or 30 years to match the duration of your mortgage loan.

And, you can select the amount of coverage that matches the amount you currently owe on your mortgage.

The proceeds will go to your beneficiary and can be used to pay off the remaining balance on your mortgage loan should you die before your term life insurance coverage expires.

Learn more about mortgage balance life insurance coverage.