Mortgage Insurance - Why You Need It
Having enough life insurance to not only cover the loss of income, but also your family’s other debts (such as house, car, credit cards, etc.) is a wise move. Even though it may feel like a struggle at the time if you have to scrape the funds together to cover the premium.
In the event the unthinkable happen, the house (and perhaps other debts) would be paid for and your family would have one less burden to worry about. Or, if you have Mortgage Life Insurance that is triggered by your disability or being unable to work (or disability insurance), then your family is covered if something should happen.