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Mortgage protection life insurance
Coverage timed to your mortgage, so your family can stay in the home.
Mortgage protection is simply life insurance sized and timed to cover your mortgage. If something happens to you, the payout can help your family keep up with the loan and stay in the home. Many people use a standard term policy for this — it's flexible, the benefit goes to your beneficiary, and they can use it for the mortgage or anything else the family needs.
Who it may fit
- Protecting the mortgage so your family can stay home
- Couples where one income covers the housing payment
- New buyers early in a long mortgage
- Anyone who wants peace of mind tied to their biggest debt
Coverage considerations
- A term policy sized to your remaining balance, with a term matching the loan, is a common approach.
- A standard term policy pays your beneficiary, who can use it however they need — not only the lender.
- Some 'mortgage protection' products pay the lender and decrease over time; a level term policy keeps the full amount.
- Adding income replacement on top of the mortgage is worth considering.
What to have ready before you apply
- Your remaining mortgage balance and years left
- Your date of birth and general health information
- Household income and other debts
- Who you'd name as beneficiary
Common questions
Is mortgage protection different from regular life insurance?
It's usually just term life sized to your mortgage. Some dedicated 'mortgage protection' products pay the lender directly and decrease over time, while a standard level term policy pays your beneficiary the full amount. A licensed agent can compare them.
How long should the term be?
Many people match it to the years left on the mortgage — for example, a 30-year term with a new 30-year loan. Our calculator can help you estimate the amount.
See what coverage may fit.
Estimate your need, then start a quick quote — no obligation, and approval is never guaranteed.
Keep exploring
Seven16 Life provides general information to help you explore life insurance options. This is not financial, legal, or tax advice.
Coverage is subject to eligibility, the application, and underwriting. Not everyone will qualify, and approval is never guaranteed.
Products and availability may vary and may not be offered in all states.
Coverage is provided and underwritten by licensed insurance providers. Seven16 Life may refer or connect you with licensed providers or partners where appropriate.
Reviewed by Ronnie Dale O'Dell, licensed insurance producer · CA License #0D81935 · NPN 7488011.