Mortgage Protection
Mortgage protection life insurance: keep the house in the family
Just bought a home? Make sure your family can keep it. Coverage sized to your mortgage, from the broker who helps you buy it.
Free Consultation
Protect your new home from day one
Mortgage protection life insurance is life insurance sized to your home loan. If you pass away, the policy pays a death benefit that your family can use to pay off the mortgage or keep making the payments, so they are not forced to sell.
Jay has helped Southern California buyers for over 25 years, and he is now a licensed California life agent. He can help you size coverage to your new loan amount and term while the details of your purchase are fresh.
- Coverage matched to your loan amount and term
- Benefit paid to the beneficiaries you choose
- Options with living-benefit riders on some policies
- Easy to set up right after you close escrow
Prefer to talk? Call or text (949) 822-8702.
Jay Romero, CA Insurance License #0C93169 · DRE 01343079
Licensed CA Life Agent
CA Insurance License #0C93169
Over 25 Years
in Southern California real estate
Bilingual
English & Español
Free Consultation
No cost and no obligation
How it works
How mortgage protection life insurance works
Most mortgage protection plans today are term life policies with a death benefit and term length matched to your mortgage. For example, a family with a $600,000 loan on a 30-year mortgage might look at about $600,000 of coverage for 30 years, or more if they also want to replace income.
With a personally owned policy, the death benefit goes to the people you name, not to the lender. Your family decides whether to pay off the loan, keep making payments, or use the money for other needs. That flexibility is one reason many buyers prefer an individual term policy over lender-offered mortgage insurance.
Not the same as PMI
Mortgage protection is not PMI or homeowners insurance
Private mortgage insurance (PMI) protects the lender if a borrower with a small down payment stops paying; it does not protect your family. Homeowners insurance covers the house itself against damage like fire. Mortgage protection life insurance is different: it protects your family’s ability to keep the home if a borrower dies.
Some policies offer riders that may pay part of the benefit early for a qualifying terminal, chronic or critical illness. Riders and availability vary by carrier and state, so ask Jay which options are available to you.
Is It Right for You?
Who this coverage is a good fit for
- First-time homebuyers
- Families who just closed escrow
- Homeowners who refinanced or took cash out
- Households that rely on one main income
Not sure how much coverage you need? Start with the free calculator, then talk it through with Jay.
Work With Jay
The same person you trust with your home
Jay Romero has over 25 years of Southern California real estate experience helping buyers, sellers and investors. He is also a licensed California life insurance agent (CA Insurance License #0C93169), so you can plan for your home and your family’s protection with one person you already know.
- Licensed California life insurance agent
- Over 25 years of real estate experience
- Clear answers with no pressure
- Bilingual service in English and Spanish
How It Works
Get covered in three simple steps
01
Consult
A quick call about your family, your home and your goals. No cost and no obligation.
02
Compare options
Jay explains the policy types and coverage amounts that fit your budget, in plain language.
03
Apply & protect
Jay helps with the application. Coverage begins once the carrier approves it and the policy is issued.
Questions
Frequently asked questions
What is mortgage protection life insurance?
It is life insurance, usually a term policy, with coverage sized to your mortgage balance and term. If you die during the term, your beneficiaries receive the benefit and can use it to pay off or keep paying the home loan.
Is mortgage protection insurance the same as PMI?
No. PMI protects the lender when you put less than 20% down. Mortgage protection life insurance protects your family by paying a death benefit to the beneficiaries you choose.
Does the lender get the money?
With a personally owned life insurance policy, the benefit goes to your named beneficiaries, not the lender. They decide how to use it.
When should I get mortgage protection?
Many buyers apply shortly after closing escrow, when the loan amount and term are known. Coverage can also be added any time you have a mortgage, including after a refinance.
Explore more coverage options
Life insurance overview · Term Life Insurance · Whole Life Insurance · Final Expense Insurance · Life Insurance for Business Owners & Investors · Living Benefits & Indexed Universal Life (IUL) · Life insurance calculator
Get Started
Ready to protect your family? Talk with Jay
Jay Romero, CA Insurance License #0C93169 · DRE 01343079
Miamar Realty · Call or text (949) 822-8702
Coverage is subject to underwriting and carrier approval. Policies are offered through Jay Romero’s licensed carrier appointments, including Farmers New World Life Insurance Company. Product features, riders and availability vary by carrier and state. This page is general information, not a quote, a contract of insurance, or tax, legal or investment advice.
