Home Owners

Mortgage Protection Insurance

Protecting Your Family Home

Mortgage protection insurance (MPI) is a type of life insurance that was created to help you pay off your mortgage if you were to pass away before it was paid off.

Like most life insurance policies, if you pass away during the term of your policy, the policy pays out. If you outlive the term of the policy, it ends. 


Is Mortgage Protection Life Insurance Required? 


No, there’s no requirement for Mortgage protection insurance under any circumstances. However, it’s not uncommon to confuse Mortgage Protection Insurance (MPI) with Private Mortgage Insurance (PMI). While they both sound very similar, they are very much completely different products. 

  • Mortgage Protection Insurance - Pays out a death benefit that covers your mortgage if you were to pass away. You get to decide if you would like this coverage or not to protect your family.


  • Private Mortgage Insurance - Insurance that protects the lender if you were to default on your loan or if the house isn't enough to repay the debt in full through a foreclosure sale.  This coverage is usually required before you can close on your home if you are putting down less than 20%.