Products
Mortgage Protection Life Insurance
Protect your home and the people who depend on you.
Affordable life insurance designed to help your family, loved ones, or beneficiaries manage mortgage payments and other financial needs if you pass away.
What Is Mortgage Protection Life Insurance?
Mortgage Protection Life Insurance uses life insurance coverage to help protect your home and your beneficiaries.
If you pass away while qualifying coverage is in force, the death benefit is paid to your beneficiaries. They can use the proceeds to help pay off or reduce the mortgage, make monthly mortgage payments, cover household expenses, pay other debts, or replace lost income.
Your beneficiaries generally decide how the life insurance proceeds are used — not the mortgage lender.
Key Benefits
Protect Your Home
Coverage can help your beneficiaries continue mortgage payments or pay down the remaining loan balance.
Affordable Coverage
Term life insurance can provide substantial coverage at an affordable premium, depending on your age, health, coverage amount, and policy.
No Medical Exam Options
Some policies may offer simplified underwriting without a medical exam. Eligibility varies by carrier and applicant.
How Does It Work?
Tell Us About Your Needs
Consider your mortgage balance, remaining loan term, income, debts, and who you want to protect.
Explore Your Options
A RIPE Insurance agent can help you compare available life insurance options based on your needs and budget.
Apply for Coverage
Complete an application. Depending on the policy and carrier, a medical exam may not be required.
Protect Your Beneficiaries
Once your policy is approved and in force, your beneficiaries receive the death benefit if you pass away while qualifying coverage remains active.
How Much Coverage Do I Need?
Consider your:
- Remaining mortgage balance
- Monthly mortgage payment
- Years remaining on your mortgage
- Income
- Household expenses
- Other debts
- Savings and investments
You may choose coverage equal to your mortgage balance or additional coverage to help provide greater financial protection for your family, loved ones, or beneficiaries.
Why Consider Mortgage Protection?
Home Protection
Help your beneficiaries remain in the home or manage mortgage payments.
Income Protection
Provide funds to help replace income and cover everyday expenses.
Beneficiary Flexibility
Your beneficiaries can generally determine how to use the death benefit.
Peace of Mind
Help provide financial protection for your home and the people who depend on you.
Get Your Free Quote
Protecting your home doesn't have to be complicated. A RIPE Insurance agent can help you explore life insurance options designed around your mortgage, financial needs, and budget.
*Mortgage Protection Life Insurance described here refers to life insurance used for mortgage-related financial protection and is not private mortgage insurance (PMI) or homeowners insurance. Policy availability, eligibility, premiums, coverage amounts, benefits, underwriting requirements, and medical exam requirements vary by carrier and product.