How Much Is Life Insurance For A Mortgage? 
When you buy life insurance to cover a mortgage , you can buy your policy in the face amount and term length that you want . Often , that is 30 year term to cover a 30 year mortgage . About 20 years down the road you may have half your mortgage paid off . At that time you could reduce your life insurance policy to half the face amount and save some money . Or you could start out taking half of your coverage in 30 year Term and half in 20 year Term . Buying the shorter term policy will save you some money and when it runs out , you still have 10 years of coverage left . All this is to say , you really ca n't know how much mortgage life insurance costs until you talk to an agent and figure out the best way to set up your policy . Give someone who sells level Term life insurance today ; you will be glad you took the time . 