Mortgage life insurance is designed to help cover an outstanding mortgage balance if the insured person dies, helping reduce the financial burden on loved ones.
The table below can be used later to compare sample monthly premiums.
Rates updated: July 31, 2026
Age
Sex
Coverage
10-Year
20-Year
30-Year
30
Male
$250,000
$17.01/mo
$21.81/mo
$33.93/mo
30
Female
$250,000
$14.77/mo
$18.10/mo
$26.77/mo
30
Male
$500,000
$26.33/mo
$35.02/mo
$60.73/mo
30
Female
$500,000
$22.54/mo
$29.86/mo
$46.83/mo
40
Male
$250,000
$21.78/mo
$31.50/mo
$52.23/mo
40
Female
$250,000
$19.16/mo
$25.25/mo
$41.14/mo
40
Male
$500,000
$35.69/mo
$55.49/mo
$94.73/mo
40
Female
$500,000
$30.37/mo
$43.07/mo
$72.63/mo
50
Male
$250,000
$48.16/mo
$69.39/mo
$127.91/mo
50
Female
$250,000
$36.38/mo
$53.17/mo
$91.16/mo
50
Male
$500,000
$81.91/mo
$132.29/mo
$241.36/mo
50
Female
$500,000
$62.88/mo
$98.11/mo
$172.50/mo
60
Male
$250,000
$120.18/mo
$188.11/mo
$n/a
60
Female
$250,000
$73.90/mo
$135.65/mo
$n/a
60
Male
$500,000
$194.79/mo
$369.73/mo
$n/a
60
Female
$500,000
$130.11/mo
$260.17/mo
$n/a
Disclaimer: Rates shown are sample monthly premiums for general comparison purposes only. Actual premiums vary based on age, sex where permitted, health, smoking status, mortgage or coverage amount, term, state, insurer and underwriting.
What Affects the Cost of Term Life Insurance?
Age
Coverage generally becomes more expensive as the insured person gets older.
Health
Medical history and current health can affect eligibility and premium rates.
Smoking
Tobacco use can significantly increase life insurance costs.
Mortgage Amount
Larger mortgage balances generally require larger amounts of coverage.
Coverage Term
Longer protection periods can result in higher premiums.
Policy Type
Personally owned term coverage and lender mortgage insurance may be priced differently.
Who May Consider Mortgage Life Insurance?
Mortgage protection may be worth considering if a mortgage represents a major financial obligation for your household.
Common Reasons
Protecting the family home
Reducing mortgage debt after death
Helping a spouse manage housing costs
Protecting a recently purchased home
Covering a large outstanding mortgage
Supplementing existing life insurance
Benefits and Things to Consider
Benefits
Focused on mortgage protection
Can help protect the family home
Straightforward financial purpose
Individual and joint options may be available
Can complement other life insurance
Things to Consider
Some policies are tied directly to the mortgage
Coverage may decrease as the mortgage declines
Lender coverage may pay the lender rather than your family
Portability can vary
Standard term life may offer broader flexibility
Mortgage Life vs. Other Coverage
Mortgage Life
Coverage designed specifically around mortgage-related financial obligations.
It is generally designed to provide funds toward an outstanding mortgage if the insured homeowner dies.
That depends on the policy. Personally owned life insurance generally pays named beneficiaries, while some lender policies pay the lender directly.
Some mortgage-specific policies use a decreasing benefit, while personally owned term life coverage can maintain a level death benefit.
Mortgage life insurance is generally separate from the mortgage itself, though specific lender requirements and products can vary.
Term life can offer broader flexibility because beneficiaries can use the death benefit for the mortgage or other financial needs.
Coverage tied directly to a lender or mortgage may be affected by refinancing. Personally owned life insurance is generally separate from the mortgage.
Joint or individual coverage may be available depending on the policy.
Requirements vary. Some policies use full underwriting while others may offer simplified underwriting.
Related Life Insurance Options
Whole Life Insurance
Explore permanent coverage with lifelong protection and cash value features.
