Is Mortgage Protection Insurance Required?
Learn the difference between voluntary mortgage-protection life insurance and lender-required mortgage insurance.
Speak directly with William Noel, Licensed Oklahoma Insurance Agent.
Available plan features may include
- Term life insurance for mortgage-protection planning
- Living Benefits for qualifying terminal, chronic, and critical illness
- No traditional medical exam
- Return-of-premium options on qualifying plans
No medical exam does not mean guaranteed acceptance. Eligibility and approval are subject to insurer underwriting. Benefits, riders, limitations, exclusions, premiums, and return-of-premium features vary by insurer and policy.
Generally voluntary
Mortgage-protection term life insurance is generally a personal insurance decision, not the same as lender-required mortgage insurance.
Other insurance may be required
Depending on the loan, a lender may require homeowners insurance or mortgage insurance. Confirm actual lender requirements with the lender or servicer.
Why buy optional protection?
A homeowner may voluntarily consider term life insurance because household expenses and mortgage obligations can continue after an income earner dies.
Speak directly with a licensed Oklahoma insurance agent
William Noel
Call (866) 277-3900