Mortgage term life insurance is designed to pay a benefit equal to the outstanding balance of a home mortgage loan in the event of the insured's death. The type of insurance that is used for this coverage is decreasing term life insurance.
Who is Eligible?
- Individuals who have closed on a new first mortgage or refinance within the past 13 months are eligible.
- The borrower and co-borrower may apply together.
What Loan Types are Approved?
- First mortgage loans
- Refinanced loans
- Variable rate loans
- ARM loans
- Certain balloon loans
- Certain construction loans
How Much Coverage is Available?
- The minimum amount is $50,000. The maximum amount is 125% of the mortgage amount, up to a maximum of $500,000.
- Available term lengths are 15, 20, 30 and 40 years.
How to Apply?
- Complete the form on this page to have a licensed QuickQuote representative contact you with quotes and assist with the online application.
View our Mortgage Term Life Insurance Brochure.
Apply for Mortgage Term Life Insurance
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