What it is
Mortgage protection is life insurance built around your home loan. If you pass away, the policy pays a benefit your family can use to pay off or keep up with the mortgage, so they are not forced to move at the hardest time of their lives.
Many plans can also include living benefits, which may help if you become critically, chronically or terminally ill and cannot work.
Who it's for
Homeowners with a mortgage, especially single-income households, families with kids at home, and folks in physical jobs like mechanics, truck drivers, nurses and tradespeople, where an injury or illness could stop the paycheck.
How it works
We look at your loan balance, years left and monthly payment, then match coverage to it. You pick a term (often 10 to 30 years) and a monthly premium that fits your budget. The benefit is paid to your beneficiary, who decides how to use it, not to the bank.
Common options
Term coverage
Affordable coverage for a set number of years, often matched to the length of your mortgage.
Return of premium
A term option that may refund the premiums you paid if you outlive the policy, according to its terms.
Living benefits riders
May let you access part of the benefit early for a qualifying critical, chronic or terminal illness.
Disability and job-loss options
Some plans offer riders that may help cover payments for a time if you cannot work. Availability varies.
Frequently asked questions
Is this the same as the PMI my lender charges?
No. PMI protects the lender. Mortgage protection is designed to protect your family, and the benefit goes to the people you choose.
Do I need a medical exam?
Many plans do not require one, and are based on health questions. Some larger amounts may need more underwriting.
What if I refinance or sell?
The policy belongs to you, not the loan, so it generally stays in force as long as premiums are paid.
How much does it cost?
It depends on your age, health, coverage amount and term. A free review is the easiest way to see real numbers.
Let's talk about your family's plan
A free, no-pressure review with Jerry Hall. We'll look at where you are and walk through options that may fit.
Book Your Free ReviewThis page is general information, not a guarantee of coverage, benefits or results. Insurance products offered through licensed agents. Not all products available in all states. Coverage is subject to underwriting and the terms of the policy or contract.