Mortgage Protection Life Insurance pays all or part of your mortgage if you become incapacitated or pass away, giving you peace of mind that your family or loved ones will not have to shoulder the additional financial burden of a monthly mortgage payment if your financial situation changes due to your injury or death. For individuals who have young families, mortgage protection insurance provides peace of mind that your family will be able to continue living in the case of a life-altering or life-ending accident or sickness.

This mortgage protection insurance can be confusing, especially if it is offered at the time you sign the lending papers for a new house loan. Mortgage protection is unlike private mortgage insurance (which is required by banks).