Mortgage Protection
For most families, a home is their largest asset and their biggest debt. If you or your spouse were to pass away unexpectedly, Mortgage Protection Insurance provides a tax-free lump sum designed specifically to pay off your home loan. Many of our modern policies even include "Living Benefits," allowing you to access funds early if you suffer a critical illness like a heart attack or stroke.
Keep Your Family in Their Home, No Matter What Happens.
Modern mortgage protection policies don't just pay out when you die. Our top-rated carriers include Living Benefits built directly into the policy.
The Power of Living Benefits in Mortgage Protection
Modern mortgage protection policies don't just pay out when you die. Our top-rated carriers include
Living Benefits built directly into the policy. This means if you suffer a critical illness (such as a heart attack, stroke, or cancer) or a chronic illness that prevents you from working, you can access a portion of your death benefit while you are still alive. These accelerated death benefits can be used to pay the mortgage, cover medical bills, and replace lost income while you recover.
Mortgage Protection Insurance FAQs
What exactly does mortgage protection insurance cover?
Mortgage protection insurance is specifically designed to cover your monthly mortgage payments or pay off your home loan entirely in the event of an unexpected tragedy. While the primary coverage is a death benefit paid if you pass away, many modern policies also include "Living Benefits." This means the policy can step in to cover your mortgage if you suffer a qualifying critical illness (like a heart attack or cancer) or a disability that prevents you from working.
Does the mortgage protection payout go to the bank or to my family?
The payout goes directly to the beneficiaries you name on the policy (usually your spouse or children)—not the mortgage lender. This gives your family the ultimate flexibility. They can choose to pay off the mortgage entirely, or they can use the funds to continue making the monthly payments while using the remaining cash for other essential living expenses.
Do I have to take a medical exam to get mortgage protection?
In most cases, no. Many mortgage protection policies are "simplified issue," which means the underwriting process relies on a review of your medical history and a brief health questionnaire rather than a physical exam or blood test. This allows for much faster approval times—often within a few days.
What happens if I move or refinance my home?
You own your mortgage protection policy, not the bank. If you move to a new home, refinance your loan, or switch lenders, your policy stays with you. You can easily adjust your coverage amount to reflect the new size of your mortgage.
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