By Sarah Woodbeck
•
09 Jan, 2022
Mortgage protection insurance is a type of life insurance designed to pay off a borrower's mortgage in the event of their death, disability, or job loss. The main benefit of mortgage protection insurance is that it provides financial security for a borrower's family in the event of their death or incapacity, by ensuring that their mortgage is paid off and their home remains in their family. Additionally, some policies may offer additional benefits such as cover for disability, unemployment and critical illness. This means that the policyholder and their family will not have to worry about losing their home and will have peace of mind knowing that their mortgage will be taken care of. It's a great way to ensure that your loved ones will not be left with a mortgage payment they cannot afford.