How disability benefits work with mortgage insurance
To understand how disability benefits work with mortgage insurance, it is important to recognize that a standard mortgage term life insurance policy does not automatically cover disability. Instead, disability protection is typically offered as an optional rider or as a separate, bundled policy known as mortgage payment protection insurance. If you become seriously ill or injured and are unable to work, this disability component steps in to help cover your monthly housing costs. Rather than paying off the entire home loan in a single lump sum