Mortgage protection insurance protects homeowners if a health issue arises, they become disabled, or a job loss is too lengthy. In the worst-case scenario, this type of coverage can pay off the mortgage balance if the borrower passes away.

Some homeowners look at mortgage protection insurance as a safety net, while others may view it as an unnecessary expense that will tighten their budget more. A client’s decision whether to purchase an insurance policy depends heavily on their health and financial circumstance.