Mortgage insurance pays all or part of your mortgage debt, but it doesn’t leave any money for your family. And your family’s financial needs may go beyond just a mortgage. They may have other expenses to cover as well. That’s why you may want to consider mortgage protection insurance instead.
Where you pay the same premium for 10, 20 or 30 years, or up to age 65, and your beneficiaries receive a tax-free lump-sum benefit in the event of your death.