Keep your family in the home you worked for.
Mortgage protection life insurance pays your family, not the bank, which means your loved ones can use it to pay off the mortgage and stay in their home. Many of our plans also offer living benefits that pay you if you get sick and can't work. We also specialize in plans that can help you pay off your home early saving you Tens of Thousands or more in interest payments. Money you get to keep and use for your interests, instead of the bank using it for theirs.
No obligation. Many applicants qualify with no medical exam.
If something happened to you, could your family keep the house?
For most families the mortgage is the biggest bill they have, and it usually takes both incomes to cover it.
When a homeowner passes away, the payment is still due next month. Families are often left choosing between draining savings, taking on debt, or selling the home they planned to grow old in.
Mortgage protection is life insurance built around that one risk. You choose coverage that lines up with what you owe, and the benefit goes straight to the people you name.
The goal is simple: the house gets paid for and your family stays home.
What your coverage can do
-
Pay off the mortgage
If you pass away, your beneficiary can use the benefit to pay off the home so no one is forced to sell or move.
-
Your family decides how it's used
The money goes to your beneficiary, not the lender. They can pay off the loan, cover bills, or keep making payments while they plan.
-
Rates locked in today
Your rate is based on your age and health when you apply, so it doesn't climb as you get older.
-
No medical exam for many applicants
Many people qualify by answering health questions over the phone, and approval can often come quickly.
-
Pay off your Home Early
We specialize in plans that build cash value which you can use to pay off your home early. This can save you Tens of Thousands or more in interest payments to the bank.
-
Help while you're living
Some policies include living-benefit options that can pay out early if you're diagnosed with a qualifying serious illness.
This isn't the insurance your lender makes you buy
Many homeowners assume they're already covered. The insurance attached to a mortgage usually protects the lender, not your family.
| Mortgage protection life insurance | PMI (private mortgage insurance) | Lender-sold mortgage life insurance | |
|---|---|---|---|
| Who gets the money | Your family | The lender | The lender |
| Pays if you pass away | Yes | No. It covers the lender if the loan goes into default. | Yes, toward the loan balance only |
| Coverage over time | Level coverage available on many plans | Not applicable | Usually shrinks as the balance goes down |
| If you refinance or move | The policy is yours and stays with you | Ends when removed or the loan is paid | Usually ends with the loan |
Features vary by carrier and policy. Your agent will walk through the exact terms of any plan before you apply.
How it works
Request your quote
Fill out the short form below or call (850) 749-5805. It takes about a minute.
Talk with a licensed agent
Your agent calls to learn about your mortgage, your family, and your budget, then shows you options side by side.
Choose your coverage
Pick the plan that fits. Many applicants are approved without a medical exam, and there's never an obligation to buy.
Get your free quote
Tell us a little about you and your home. A licensed agent will call to go over your options. There's no cost and no obligation.
Prefer to talk now?
Call (850) 749-5805Common questions
What is mortgage protection insurance?
It's life insurance designed to cover your mortgage. If you pass away while the policy is in force, it pays a benefit to your beneficiary, who can use it to pay off the home or cover other expenses.
Isn't my mortgage already insured?
Probably not for your family. PMI protects the lender if the loan defaults and pays nothing to your family if you pass away. Homeowners insurance covers the house itself, not the loan.
Do I need a medical exam?
Many applicants don't. Most plans use a short set of health questions, and your agent will tell you up front if a plan you're considering requires an exam.
What happens if I refinance, sell, or move?
The policy belongs to you, not the loan, so it stays in force as long as premiums are paid. You can keep it for your next home or for your family's other needs.
How much does it cost?
Premiums depend on your age, health, the coverage amount, and the length of the term. Your agent will quote real numbers from multiple carriers so you can compare.
Is this from my lender or a government program?
No. Home Protection and Payoff is not affiliated with your mortgage lender or any government agency. We work with licensed agents who represent insurance carriers.
Protect the home. Protect the people in it.
A short call is all it takes to see what coverage would cost for your family.