Affordable Life Insurance Protection for Your Family
Here is a comprehensive list of resources to assist you in researching, shopping for and purchasing mortgage insurance.
Learn about mortgage insurance, how it works and why it’s important for you, your family and your home.
Wikipedia – Mortgage life insurance
MGIC – What is Mortgage Insurance?
Mortgage life insurance is a type of insurance specifically designed to protect a repayment mortgage. If the policyholder were to die while the mortgage life insurance was "In Force", the policy would pay out a capital sum that will be just sufficient to repay the outstanding mortgage loan.
Mortgage life insurance is supposed to protect the borrower’s ability to repay the mortgage for the lifetime of the mortgage. This is in contrast to Private Mortgage Insurance, which is meant to protect the lender against the risk of default on the part of the borrower.
Review and compare the benefits and drawbacks of the basic types of mortgage insurance policies.
Zillow – Private Mortgage Insurance
Insurance Information Institute – Private Mortgage Insurance
Money Crashers – Mortgage Payment Protection Insurance
Bank Rate – Mortgage Life Insurance
NAA Life – Mortgage Disability Insurance
NAALife – Mortgage Protection Insurance
VA Benefits – Veteran’s Mortgage Life Insurance
Choose from the list of resources below to help you compare the best instant mortgage life insurance rate quotes among the leading mortgage insurance companies to help you save time and money finding a quality, affordable mortgage insurance policy.
Top Pick – JRC Insurance Group
JRC Insurance Group helps you shop, compare and save on mortgage life insurance. Regardless of your age or health background, we'll shop our 40+ insurance companies and find you affordable mortgage life insurance you need to protect your family and fit your budget. Compare the best mortgage life insurance rates for savings up to 73%. Get Your FREE Quote
Highly Recommended – Haven Life Insurance Agency
Haven Life uses the information provided in your application to make an instant decision on your application. Healthy, qualified applicants (based on the information provided in your life insurance application) can be insured immediately with no medical exam while other applicants can receive immediate coverage pending a medical exam.
Applicants age 60-64 are eligible to apply for up to $1 million in coverage; subject to underwriting approval.
Some qualified applicants (U.S. citizens up to the age of 59) will be able to finalize coverage without the need for a medical exam. The majority of applicants are still required to take a medical exam.
Keep in mind: Issuance of the policy or payment of benefits may depend upon the answers given in the application and the truthfulness thereof.
Insurance.com – Is Mortgage Life Insurance Your Best Buy?
Investopedia – Why You Don’t Need Mortgage Protection Life Insurance
Nationwide – How Life Insurance Protects a Mortgage
Review these resources that provide information and analysis of leading mortgage insurance carriers in America.
Consumer Affairs – Compare Reviews of Mortgage Companies
NAALife – National Agents Alliance – Mortgage Protection
Genworth Financial – Mortgage Insurance
Learn about financial strength ratings, how they are determined, and why they are important to consider when choosing a mortgage insurance company.
AM Best Company – Financial Strength Ratings
Standard and Poor's – Insurance Financial Strength Ratings
Moody's – Insurance Ratings
Dun & Bradstreet – Financial Ratings
Fitch Ratings – Financial Strength Insurance Ratings
Review these helpful calculators that can assist you in deciding how much mortgage insurance you need.
MGIC – Mortgage Calculators
Know Your Options – Mortgage Calculator
Amortization Calc – Mortgage Amortization Calculator – Amortization Schedule Calculator
Allstate – Mortgage Payment Calculator
FHB – Mortgage Insurance FAQs
Legal and General – Mortgage Life Insurance FAQs
US Bank – Home Mortgage FAQS
True North Insurance and Financial Strategies – Private Mortgage Insurance Blog
FHA News – FHA News Blog
Mortgage News Daily – Mortgage Rates Blog
Total Mortgage – Total Mortgage Blog
Investopedia – 6 Reasons to Avoid Private Mortgage Insurance
Wells Fargo – Mortgage Loans
JP Mortgage Chase – Mortgage Resources
Here is a list of the departments of insurance in every state in the U.S.A. They are responsible for oversight of insurance companies and licensing of insurance agents.
Alabama Department of Insurance: http://www.aldoi.gov
Alaska Department of Commerce, Community & Economic Development – Division of Insurance: https://www.commerce.alaska.gov/web/ins/
Arizona Department of Insurance: https://insurance.az.gov
Arkansas Insurance Department: http://www.insurance.arkansas.gov
California Department of Insurance – CDI: http://www.insurance.ca.gov
Colorado Department of Regulatory Agencies – Division of Insurance: https://www.colorado.gov/pacific/dora/division-insurance
Connecticut Insurance Department: http://www.ct.gov/cid/site/default.asp
Delaware Department of Insurance: http://www.delawareinsurance.gov
District of Columbia Department of Insurance, Securities and Banking: http://disb.dc.gov/page/insurance
Florida Department of Insurance Regulation: http://www.floir.com
Georgia Department of Insurance – Office of Insurance and Fire Safety Commissioner:
Hawaii Department of Commerce & Consumer Affairs – Insurance: http://cca.hawaii.gov/ins/
Idaho Department of Insurance: http://www.doi.idaho.gov
Illinois Department of Insurance: http://insurance.illinois.gov
Indiana Department of Insurance: http://www.in.gov/idoi/
Iowa Insurance Division: http://www.iid.state.ia.us
Kansas Insurance Department: http://www.ksinsurance.org
Kentucky Department of Insurance: http://insurance.ky.gov
Louisiana Department of Insurance: http://www.ldi.la.gov
Maine Department of Professional & Financial Regulation – Bureau of Insurance: http://www.maine.gov/pfr/insurance/
Maryland Insurance Administration: http://insurance.maryland.gov/Pages/default.aspx
Massachusetts Office of Consumer Affairs & Business Regulation – Division of Insurance: http://www.mass.gov/ocabr/government/oca-agencies/doi-lp/
Michigan Department of Insurance and Financial Services: http://www.michigan.gov/difs/
Minnesota Department of Commerce – Insurance Division: http://mn.gov/commerce/industries/insurance/
Mississippi Insurance Department: http://www.mid.ms.gov
Missouri Department of Insurance: https://insurance.mo.gov
Montana Commissioner of Securities & Insurance: http://csimt.gov
Nebraska Department of Insurance: https://doi.nebraska.gov
Nevada Department of Business and Industry – Division of Insurance: http://doi.nv.gov
New Hampshire Insurance Department: http://www.nh.gov/insurance/
New Jersey Department of Banking & Insurance: http://www.state.nj.us/dobi/index.html
New Mexico Department of Insurance: http://www.osi.state.nm.us
New York Department of Financial Services – Insurance
North Carolina Department of Insurance: http://www.ncdoi.com
North Dakota Insurance Department: https://www.nd.gov/ndins/
Ohio Department of Insurance
Oklahoma Insurance Department: https://www.ok.gov/oid/
Oregon Department of Consumer and Business Services – Insurance: http://dfr.oregon.gov/Pages/index.aspx
Pennsylvania Insurance Department: http://www.insurance.pa.gov/Pages/default.aspx
Rhode Island Department of Business Regulation – Insurance: http://www.dbr.state.ri.us/divisions/insurance/
South Carolina Department of Insurance: http://www.doi.sc.gov
South Dakota Department of Labor and Regulation – Division of Insurance: http://dlr.sd.gov/insurance/
Tennessee Department of Commerce & Insurance: https://www.tn.gov/commerce/section/insurance
Texas Department of Insurance: http://www.tdi.texas.gov
Utah Insurance Department: https://insurance.utah.gov
Vermont Department of Financial Regulation – Insurance Division
Virginia – State Corporation Commission – Bureau of Insurance: http://www.scc.virginia.gov/boi/index.aspx
Washington State Office of The Insurance Commissioner: https://www.insurance.wa.gov
West Virginia Office of the Insurance Commissioner: http://www.wvinsurance.gov
Wisconsin Office of the Commissioner of Insurance: https://oci.wi.gov/Pages/Homepage.aspx
Wyoming Department of Insurance: http://doi.wyo.gov
Wallet Hub – 2016 Mortgage Insurance Report: FHA vs PMI
USA Mortgages – Mortgages
MGIC Home Buyer's – Mortgage Frequently Asked Questions
MGIC Home Buyers – Mortgage Glossary
FHA – Federal Housing Administration – Mortgage Insurance Programs
Fannie Mae – Single Family Mortgage
Freddie Mac – Mortgage Loans
HARP – Mortgage Program