How Much Does Mortgage Life And Disability Insurance Cost? 
Mortgage Life to protect your love ones from the burden of a mortgage can be accomplished in a couple of ways . You can purchase a policy from your bank or mortgage company that will pay off your obligation to them in the event of your death . The amount of the policy will be paid to the bank and your family and loved ones will not have that mortgage as a burden . The other option is to purchase a Term Life Policy through an independent agent that compares the best companies for this type of protection . The main benefits of a Term Life Policy is that the death benefit will not decrease during the life or term of the policy . The other benefit is that the death benefit is paid to your beneficiary and they decide where the money is distributed . Your family and/or loved on can pay off the house and use additional funds for final expenses or other considerations . You should compare both options . The term life policy is more flexible but both should be considered . Mortgage disability insurance can be purchased as separate policy through your bank or some insurance companies . Disability income is paid at a maximum per month depending on your state . They will compare what you receive from other sources , such as your employer or personal policy , and determine the maximum amount of payment that your can receive . You can add disability income additions or riders to your term life policy for the amount of your monthly mortgage payment and get the convenience of one payment . The cost of these policies and riders are dependent on the amount of monthly payment needed , the length of time the payments continue , your occupation , and the amount of time between when the disability starts and when the payments start . Check with your agent to determine how the program works for you . 