Mortgage Insurance (also known as mortgage guarantee and home-loan insurance) is an insurance policy which compensates lenders or investors for losses due to the default of a mortgage loan. Mortgage insurance can be either public or private depending upon the insurer.
Purchasing your dream home is often the single largest purchase a person makes in their lifetime. But in times of unpredictable circumstances if you were to become critically ill, suffer an accident or die the financial burden of paying for the mortgage falls on the family members. Would your family be able to keep making the mortgage payments? Would they have to sell your home?
You can protect your family home with Mortgage Life Insurance, a flexible, low-cost way to protect one of your largest outstanding financial obligations.