
Mortgage Protection Insurance (MPI)
Mortgage Protection Insurance (MPI) is a type of life insurance designed specifically to pay off or cover a homeowner's mortgage in the event of their death or disability. This ensures that your family or beneficiaries won’t be burdened with the mortgage payments in the event something happens to you.
MPI typically offers coverage for a specific period, often coinciding with the length of your mortgage. The primary goal is to protect your home and keep your family in it, even if you're no longer able to contribute financially due to death or illness.