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Mortgage protection insurance is an insurance policy that pays off your mortgage if you or another policy holder dies during the term of the mortgage. If you have a joint mortgage, both people need mortgage protection insurance. It runs for the same length of time as your mortgage.
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Mortgage life insurance (or mortgage protection insurance), is meant to repay your mortgage if you were to die, or depending on the carrier, become disabled and can no longer make your payments. This type of life insurance benefits you as a homeowner by paying off your home mortgage in full. It’s typically offered when you fill out your loan.
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Mortgage Protection Insurance Tampa FL – Mortgage Protection Basics – (813) 805-8850 What is Mortgage protection insurance? mortgage protection insurance is a form of life insurance that’s specifically meant to pay off your family’s mortgage when you pass away. This can help your family keep their home, even when they’ve lost your income.