Mortgage Protection Insurance Calculator (2022 Update)

Mortgage Protection Insurance Calculator

Mortgage protection insurance insures that there is money to pay off your mortgage for your family if something ever happened to you or your income.

So how much is it?

This page has a mortgage protection insurance calculator that compares 15+ different mortgage protection insurance companies instantly for free.

If you are on mobile, select “Get Quote” to use the calculator.

How Does It Work?

State

Enter your home state. Rates change depending on the state.

Health Class

The best rates are called preferred plus but not everyone qualifies. The final rating will depend on the results of a medical exam. However, there are some companies that do not require medical exams, but they are more expensive.

Birthday

The younger you are, the more affordable mortgage protection insurance will be. Don’t wait too long!

Sex

Rates are higher for males. Sorry fellas.

Nicotine Use

Rates are higher for smokers, specifically if you use nicotine products in the last 12 months.

Type Of Insurance

the type of insurance is usually the term length for mortgage protection, however, some quotes are available that never expire and last your whole life.

Face Amount

The face amount should be the amount on your mortgage, plus a little if you want to leave even more behind to your family.

Contact Info

We’d love to speak to you and go over all of your options in your area to find the best price for you!

How Much Does It Cost For Mortgage Protection?

The end cost for a mortgage protection policy will depend on many factors such as your age, coverage amount, lifestyle choices, height and weight, and other health conditions.

With that being said, here are preferred plus (best rates available) for a male of various ages and coverage amounts at a 10-year level term.

Age$100,000$200,000$300,000$400,000
30$8.31$10.51$12.69$14.88
40$10.06$14.00$17.24$21.20
50$15.31$24.50$30.14$38.40
60$34.04$61.95$77.10$101.01
70$81.90$157.68$233.45$309.23
75$138.34$270.55$402.76$534.98

As you can see, rates get a lot higher at older ages. It’s important to get it early.

A 50-year male can expect to pay between $15 and $40 a month for a mortgage protection policy.

How Many Years Is A Mortgage Protection Plan?

A mortgage protection policy has terms of 10, 20, or 30 years depending on your age. This will be how long the premiums stay level or locked in, and once the term is up, you can renew the coverage every year but the price will increase annually. Most mortgage protection policies last until age 95 if you choose to renew them.

Mortgage Protection Providers Reviews

Many well-known companies sell mortgage protection insurance. However, the big companies you see on T.V. are never the best option to go with. Who do you think is paying for all of that advertising?

You, the policyholder with your premiums.

Here are some of our reviews on some popular insurance companies that you should stay away from is you want to save money.

Click here for our State Farm mortgage protection review.

Click here for our Allstate mortgage protection review.

Click here for our USAA mortgage protection review.

Usually, the best mortgage protection policy is going to be with Mutual of Omaha, Foresters Financial, or American Amicable.

Summary

Mortgage protection insurance is a great way to give you and your family peace of mind about what will happen to the mortgage and other bills in case you pass away or become disabled.

This calculator compares 15+ different mortgage protection companies to find the best rate for you.

If you want more information or want to leave a comment please do so below.

We look forward to speaking with you!

FAQs