Do I Really Need Mortgage Protection Insurance?

Do You Need MPI?

Consider these questions to determine if mortgage protection insurance is right for you:

You Likely Need MPI If:

• Your family depends on your income to pay the mortgage
• You are a single-income household
• You recently purchased a home or refinanced
• You do not have sufficient existing life insurance to cover the mortgage
• You are self-employed without disability insurance
• You have a pre-existing health condition that makes disability more likely

You May Not Need MPI If:

• Your existing life insurance death benefit exceeds your mortgage balance by 5x or more
• You have substantial savings and investments that could cover the mortgage
• Your mortgage is nearly paid off
• Both spouses earn enough individually to cover the mortgage

Even if you have some existing coverage, MPI with living benefits provides protection against disability and critical illness that most term life policies do not include.