As a homeowner, you want to protect your home with affordable, comprehensive coverage.

Mortgage protection insurance is a type of term life insurance designed to pay off your mortgage in the event of a death.

Unlike traditional term life insurance, most Mortgage Payment Protection insurance has living benefits that kick into effect if chronic, acute, or terminal disease arises (terms and conditions depend on the insurance company).

How does it work? You purchase a plan for a set period and make monthly or annual payments. Suppose you pass away or are diagnosed with a chronic, critical or terminal illness while the policy is in force. In that case, you or your chosen beneficiary receives funds to pay off your mortgage.

This coverage ensures that your family can stay in their home if you can no longer contribute to mortgage payments.