Why Do You Need Life Insurance On A Mortgage? 
Why do you need life insurance on a Mortgage ? You do n't unless it 's a contingent of aquiring the loan and acts as a means to reassure the company loaning the mortgage money that they will be repaid in case of death during the mortgage period . In this way you are covering your loan responsibililty . The other way this could be taken is should you carry enough life insurance to cover your mortgage among other things ? The answer is going to depend on the individual . If you want your significant other and kids to remain in the home after you 've died , an insurance policy takes care of that . Completely an individual 's choice . You do n't have to , but if the ability of your spouse to continue to pay for the home after you 've passed is too difficult , they lose you , they lose the home . Honestly , I 've met people where that just fine with them . It 's not what I 'd do to my family , but I ca n't speak for everybody . 