Your home is likely your family's biggest asset and biggest monthly bill. Mortgage Protection is life insurance built around that mortgage: if something happens to you, it can pay off the balance so your loved ones keep the home — free and clear, with no payment hanging over them.
It's a life insurance policy designed to match your mortgage. You choose coverage close to what you owe and a term close to the years you have left. If you pass away during that term, the benefit goes to your family — and they can use it to pay off the home so they never have to worry about the payment again.
Unlike the PMI your lender requires (which pays the bank), this benefit goes to the people you name. They decide how to use it — and most choose to keep the home.
Many plans can include access to part of your benefit if you're diagnosed with a qualifying terminal, critical, or chronic illness — and options like return of premium. (Features vary by carrier.)
The policy belongs to you — not your lender. If you refinance or your payment changes, your coverage stays in force. It doesn't reset.
For most households, losing the primary earner doesn't just mean losing a paycheck — it means a mortgage payment that suddenly has no income behind it. Within months, a grieving family can be forced to choose between keeping the home and keeping up. Mortgage Protection removes that choice. The home gets paid off, and your family gets to stay.
The balance is still owed. The payment is still due every month. Savings drain fast, and the family may have to sell or refinance under pressure — at the worst possible time.
The benefit pays off the mortgage. No balance, no monthly payment — one less thing for your family to carry while they're grieving. They keep their home and their stability.
Choose coverage close to your current balance so the home can be fully paid off.
Line the term up with the years you have left on the loan — so you're covered the whole way.
Your premium is based on your age and health. Many plans use simple underwriting — often no medical exam.
If something happens, the benefit is paid to your loved ones so they can keep the home.
Enter your mortgage details below. This shows the coverage it would take to pay off your home and what your family would otherwise face — so you can see, in seconds, how Mortgage Protection could help. (For your own quick estimate; not a quote.)
With Mortgage Protection: the balance is paid off — $0 owed, $0/month. Your family keeps the home, free and clear.
No. The insurance a lender requires (PMI) protects the bank if you stop paying. Mortgage Protection protects your family — the benefit is paid to the people you name, and they choose how to use it, including paying off the home.
Often not. Many Mortgage Protection plans use simplified underwriting — a few health questions and sometimes no exam — depending on your age and the coverage amount. We'll find the option that fits you.
The policy is yours, not your lender's. If you refinance, your coverage stays exactly as it is. If you move, you can keep the same policy on your new home.
Your named beneficiary — your spouse, family, or whomever you choose. They receive the benefit directly and decide how to use it.
Premiums depend on your age, health, the coverage amount, and the term. Many families are surprised how affordable it is. The best way to know your number is a free, no-pressure quote.
Tell us a little about your mortgage and we'll show you exactly what it would take to protect it — with no obligation and no pressure.
Get your free personalized quote →This page is for general educational purposes only and is not insurance, financial, legal, or tax advice, a policy, or an offer of coverage. The calculator provides a simplified estimate based on the figures you enter and does not reflect a quote, premium, or guarantee. Product features, availability, underwriting, and benefits vary by carrier and state. Coverage is subject to application and approval. Hemispheres Financial Group · Insurance products offered through licensed agents.