As long as you're a homeowner under age 65, you're eligible to apply. Once your coverage is approved, your premium will be automatically billed and collected with your monthly mortgage payment, so there's no extra bill to bother with each month.
Many households rely on two incomes to make ends meet. Mortgage life insurance provides a way to insure against the loss of a working spouse or co-borrower at a premium that is half the cost of the premium rate of the oldest of the co-borrowers.
Mortgage Life pays a benefit for any cause of death, with the exception of suicide committed during the first two years of coverage.
This plan offers you an affordable way to make sure the benefits will be used to pay off your mortgage. Mortgage life insurance takes care of your outstanding mortgage loan so that your other insurance policies, if available, can be used to cover expenses like monthly bills, a college education or retirement.
Mortgage Life Insurance ensures that your loved ones will continue to have a place called home in the event that you’re no longer there to care for them. The Mortgage Life Insurance plan is designed to pay off the outstanding mortgage balance on your home if you die during the term of the loan.
