Mortgage Protection FAQs
Mortgage protection is life insurance designed around your home loan. If you pass away during the policy term, the benefit is paid to the beneficiary you choose, who can use it to pay off or keep up with the mortgage and other bills.
No. Private mortgage insurance (PMI) protects your lender if you stop making payments. Mortgage protection life insurance protects your family, and the benefit goes to your beneficiary, not the bank.
Some policies offer optional riders that may pay part of the benefit early for a qualifying critical, chronic or terminal illness, or help with payments after a disability. Riders are optional, can cost extra, and depend on carrier approval.
The policy belongs to you, not your lender, so it generally stays in force as long as premiums are paid. After a refinance or move, it’s a good idea to review whether the coverage amount and term still match your loan.
Yes. I help homeowners in Murrieta, Menifee, Temecula, Wildomar, Lake Elsinore and nearby areas. Call 760-297-0366 or use the form above for a quote.