Frequently asked questions

It's life insurance purchased with the household mortgage in mind. If the insured person dies while the policy is in force, the insurance company pays a death benefit to the named beneficiaries under the policy's terms.

No. Private mortgage insurance protects the lender against loss if a borrower stops paying, and it's typically required when a down payment is under 20%. Mortgage protection pays your beneficiaries. Different product, different purpose, different beneficiary.

No. Lenders commonly require homeowners insurance and may require PMI. Mortgage protection is your choice, and you can buy it from anyone you like.

The beneficiaries you name on the policy. Some products are structured to pay a lender directly instead — that is not the standard arrangement, and if a product being discussed works that way, your agent must tell you before you apply.

Generally yes. Death benefits paid to individual beneficiaries usually come with no restriction on use. Families put the money toward housing payments, income replacement, childcare, debt, funeral costs, or savings. What a particular policy pays and to whom depends on the policy issued.

There's no universal number. People often start from the mortgage balance and add other debts, income they'd want replaced for a period of years, childcare and education costs, and final expenses. Then they subtract coverage they already have. Your agent can walk through that math with you — it's a conversation, not a formula.

It depends on the insurance company, the product, the amount and length of coverage, your age, and the outcome of underwriting. That's why there are no prices on this website. Any figure quoted before an application and underwriting is an estimate, not an offer.

Sometimes. Some products are fully underwritten and may require a paramedical exam or lab work. Others use accelerated or simplified underwriting with health questions and database checks instead. Which applies depends on the carrier, the product, the coverage amount, and your age and answers.

Many people with health conditions do obtain coverage, sometimes at a higher premium or with different terms. Others are declined. Each insurance company sets its own underwriting rules, and only the insurance company can decide. We can't promise an outcome, and you should be skeptical of anyone who does.

No. Approval is never guaranteed. Requesting information from this website is not an application and has no effect on eligibility.

These policies include a free-look period after delivery during which you may return the policy for a refund of premium, and the length of that period is set by state law and the policy. After that, you can generally stop a policy by stopping payment or contacting the insurance company, subject to the policy terms. Cancelling may have consequences — particularly with permanent policies that have cash value — so talk it through first.

It varies. Some accelerated-underwriting products can produce a decision within days; fully underwritten cases can take weeks. Coverage begins only as stated in the policy and any conditional receipt — not when you submit this form, and not when you complete an application.

Yes, that's common. Each person applies and is underwritten individually, or in some cases a joint policy may be available. What's available depends on the carrier and product.

No. We are an independent insurance agency. We are not affiliated with, endorsed by, or sponsored by your mortgage lender or servicer, any bank, or any government agency. We didn't get your information from your lender, and we don't have access to your loan.

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