Mortgage life insurance is a reducing term life insurance policy which guarantees that if you die your mortgage will be paid in full. The coverage decreases as the mortgage balance declines and it is recommended for the borrower to have a mortgage life insurance policy. Mortgage life insurance provides a safety net for your family should you or your spouse pass away and pays out a guaranteed cash sum during if you die the policy term or are diagnosed with a terminal illness with less than 12 months to live within this period. The market for mortgage life insurance policies is competitive. But, when you buy a mortgage life insurance policy through your lender, you have no opportunity to shop around unlike comparing quotes with AllOptions at no cost or obligation.

Go to Personal Insurance home page