Is Life Insurance On A Mortgage Compulsory? 
Life insurance on a mortgage is not mandatory.However , Private Mortgage Insurance -LRB- PMI -RRB- may be required by the lender if less than 20 % of the mortgage amount is made by the borrower as a down payment . The lender may request that the Private Mortgage Insurance be purchased through them . Be sure to review options to -LRB- PMI -RRB- for example Term Insurance as an alternative ... 