Frequently asked questions
Clear answers before a coverage decision.
Start with the basics. Every policy is different, and the carrier contract controls the actual coverage, benefits, exclusions, and requirements.
Explore my optionsWhat is Mortgage Protection?
Mortgage protection is a purpose for life insurance coverage: helping provide financial flexibility to beneficiaries while a mortgage and household obligations remain.
Is Mortgage Protection the same as homeowners insurance?
No. Homeowners insurance generally protects the property against covered damage and liability. Mortgage protection commonly uses life insurance to help protect people financially if the insured dies.
Does the insurance company pay my mortgage directly?
Generally, no. Life insurance proceeds are paid to the designated beneficiary, who determines how the funds are used. That may include mortgage payments, reducing the mortgage balance, income replacement, or other needs.
How much coverage might I need?
That depends on the mortgage balance, remaining term, income, household expenses, existing coverage, savings, budget, and the people who depend on you.
How long should my coverage last?
Many homeowners consider the remaining mortgage years and how long the household expects to depend on their income. The appropriate duration varies by situation.
Does life insurance require a medical exam?
Not always. Some products use simplified or accelerated underwriting, while others may require an exam or additional records. Requirements vary by carrier, product, age, and health history.
Can I qualify with health conditions?
Possibly. Each carrier evaluates health differently. Eligibility and pricing depend on the condition, treatment, control, history, and other underwriting factors.
How long does underwriting take?
Timing varies. Some decisions may be quick, while other applications require records, an exam, or further review and can take longer.
What is Return of Premium Term?
It is a term life feature available on certain policies that may return eligible premiums when contract requirements are met and the insured survives the applicable term. Not every term policy includes it.
What is Indexed Universal Life?
IUL is permanent life insurance with a death benefit and potential cash-value accumulation tied partly to a market index, subject to policy caps, floors, participation rates, charges, and other terms.
What is Final Expense insurance?
It is life insurance generally designed with a smaller death benefit that beneficiaries may use for funeral costs, bills, medical expenses, or other final obligations.
What is a beneficiary?
A beneficiary is the person or entity designated to receive the policy’s death benefit, subject to the policy contract.
Can my beneficiary decide how the death benefit is used?
Generally, yes. Unless a legal arrangement or policy provision says otherwise, the beneficiary determines how proceeds are used.
Personalized guidance