Can I buy life insurance for my mortgage loan?

Yes. Many people use term life insurance policies to help them protect their mortgage loan in case they die before it is fully repaid.

You can select an amount of life insurance that matches your outstanding mortgage loan balance, and choose a policy "Term" (duration) for coverage that matches the duration of your mortgage loan - usually 10, 15, 20, 25 or 30 years.

And, name your spouse or family member as beneficiary of your term life insurance pol...

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Mortgage insurance can help provide you with the peace of mind knowing your family will be able to continue living in the home they shared with you while you were alive, while providing your loved ones with the security of keeping their home if you are no longer there to provide for them.

If you own a home and have a mortgage loan on your home, it may be a good idea to have mortgage life insurance to protect your family and help to make sure your family can go on living in your home should som...
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