Why I'd Never Buy Mortgage Life Insurance -- and You Probably Shouldn't Either

Why I'd Never Buy Mortgage Life Insurance -- and You Probably Shouldn't Either

When you take out a home loan, you may be offered mortgage life insurance. Also called mortgage protection insurance, it helps ensure you don't lose your home if you become disabled. Mortgage life insurance is different from private mortgage insurance (PMI), which lenders may require you to buy if you make a small down payment when buying your house.