Keep the house in the family if you're gone
Free to useNo obligationLicensed agents only
Just closed or years into the loan: answer a few quick questions and we'll connect you with a licensed agent who can compare mortgage protection options for your home and budget.
- Free to use, no obligation to buy
- Coverage that can pay your family, not just the lender
- Separate from PMI, which only protects your lender
Why homeowners look at mortgage protection
PMI doesn't protect your family
PMI protects your lender if payments stop. It doesn't pay off your loan if you die. Mortgage protection is life insurance that can help pay it off so your family can stay.
Your family decides how to use it
Private policies pay the beneficiaries you name. They can pay off the loan, keep making payments and use the rest for bills, or sell the home and use the money elsewhere.
Coverage tied to you, not the loan
Lender-sold credit life usually ends when you refinance or sell. A private term policy is tied to you, so it can stay in force as long as you keep paying premiums.
Match the years left on your loan
Term coverage can be set to roughly the years left on your mortgage, with a payout that stays level for the whole term or decreases along with your balance.
- 01
Just bought a home
The letters that arrive after closing are usually ads, not notices from your lender, and you never have to answer them. Compare real options on your own schedule.
- 02
Two incomes on the payment
If either paycheck is needed to make the mortgage, coverage on both of you may matter. An agent can look at options for you together.
- 03
Refinanced or moved
Lender-sold credit life usually ends with the old loan. A policy tied to you can keep going through a refinance or a move.
- 04
Still paying PMI
PMI generally ends automatically when your balance is scheduled to reach 78% of the home's original value. Some homeowners put part of that savings toward life insurance.
- 05
Health conditions
Some policies use health questions and records checks instead of an exam, while larger amounts can require one. Insurers weigh conditions differently, so comparing helps.
Mortgage protection insurance
What Is Mortgage Protection Insurance and How Does It Pay?
Mortgage protection insurance is life insurance bought to cover your home loan if you die, so your family is not left with the payments. Some versions pay the lender directly and shrink as your balance falls, while others pay your family, who decide how to use the money.
Editorial Team · September 30, 2026
What Happens to Your Mortgage When You Die?
When you die, your mortgage does not go away: the loan stays attached to the house, and whoever inherits the home must keep paying, sell, or refinance. Federal law generally stops the lender from demanding full payment just because a relative inherited the home, but it does not pay the loan for them.
Editorial Team · September 30, 2026
Mortgage Protection vs. PMI: Why They Are Not the Same
PMI protects your lender if you stop making mortgage payments, and it does nothing for your family if you die. Mortgage protection insurance is optional life insurance that helps pay off your home loan when you die, and some versions pay your family instead of the lender.
Editorial Team · September 30, 2026
Mortgage Protection vs. Term Life Insurance: Which Is Better?
For many homeowners, a level term life policy that pays your family is more flexible than lender-paid mortgage protection, because the benefit does not shrink and your family decides how to use it. Mortgage protection can still fit if you want coverage built around your loan, or if you want to compare options with simpler health questions.
Editorial Team · September 30, 2026
Best Mortgage Protection Insurance (2026)
The best mortgage protection insurance is usually a term life policy whose length matches your loan and whose benefit goes to your family. Banner Life fits long or oddly timed mortgages with terms up to 40 years, State Farm and Illinois Mutual fit buyers who want premiums back if they outlive the term, and Foresters fits homeowners who want accelerated benefits for serious illness built in.
Editorial Team · September 30, 2026
How Much Mortgage Protection Do I Need? A Simple Sizing Guide
Most people need at least enough mortgage protection to pay off their current loan balance, with a term that lasts as long as the loan. If your family also relies on your income or you carry other debts, add those amounts on top of the balance.
Editorial Team · September 30, 2026
Common questions
Is mortgage protection insurance the same as PMI?
No. PMI insures your lender against loss if you stop making payments, and it does nothing for your family if you die. Mortgage protection insurance is optional life insurance that helps pay off your home loan when you die. Having PMI doesn't mean your family is protected.
Is mortgage protection insurance required to get a mortgage?
No. Optional credit life insurance can't be made a condition of your loan, according to the NAIC. The insurance lenders commonly require with a low down payment is mortgage insurance such as PMI, which protects the lender, not your family.
Who gets paid: the lender or my family?
It depends on the type. Lender-sold credit life pays the lender directly, and its coverage usually shrinks as your balance falls. A private policy sold as mortgage protection pays the beneficiaries you name, who decide whether to pay off the loan or use the money another way.
What happens if I sell the house or refinance?
Lender-sold credit life is tied to that specific loan, so it usually ends when the loan is paid off by a sale or refinance. A private term policy is tied to you, not the loan, so it can stay in force as long as you keep paying premiums. Check your policy for its exact rules.
Does mortgage protection cover me if I lose my job?
A basic policy pays only if you die. Some lender-sold credit insurance and some private policies offer separate disability or involuntary unemployment coverage that makes a limited number of monthly payments. Read the waiting period and the maximum number of payments before you buy.
Is this service free, and who will I talk to?
Yes, it's free. We're a matching service, not an insurance company or your lender. You answer a few questions about your home and your goals, and we connect you with a licensed agent who can compare options with you. There's no cost and no obligation to buy.