Free tool · For breadwinners, ages 20–60
Mortgage protection calculator: keep the house if something happens to you
Enter your mortgage, income, kids and savings. You’ll see how much coverage your family needs, the term that matches your loan, and what it costs — from real carrier rate tables.
An estimate, not advice or a quote. Costs are based on real carrier rate tables for a healthy applicant in the best available health class, and assume you qualify — your actual price depends on your health, your state, the carrier, and underwriting. Coverage needs depend on your whole situation; a licensed agent can help you fine-tune it.
How the calculator works
- The mortgage is the base: if you’re gone, the house gets paid off.
- Up to 10 years of income keeps the household running while your family adjusts — groceries, car payments, childcare.
- College and debts so your kids’ plans don’t change.
- The term matches the years left on your mortgage, rounded up to 10, 15, 20 or 30 years.
Mortgage protection vs. the bank’s mortgage life insurance
| Term life (mortgage protection) | Lender mortgage life insurance | |
|---|---|---|
| Who gets paid | Your family | The lender |
| Benefit over time | Stays level for the whole term | Often shrinks as the loan balance falls |
| If you refinance or move | Coverage stays with you | Usually ends with the loan |
| Can cover more than the house | Yes — income, debts, college | No |
What it costs
Healthy non-smokers, from carrier rate tables we work with (low end = best health class at the most competitive carriers; high end = typical, including no-exam options):
| Age | Policy | Men | Women |
|---|---|---|---|
| 30 | 30-year term, $400,000 | $33–$88/mo | $28–$73/mo |
| 35 | 30-year term, $500,000 | $51–$128/mo | $45–$102/mo |
| 40 | 20-year term, $400,000 | $39–$102/mo | $33–$89/mo |
| 45 | 20-year term, $300,000 | $39–$109/mo | $33–$88/mo |
| 50 | 15-year term, $250,000 | $40–$96/mo | $33–$70/mo |
Estimates, not quotes. Health, tobacco, state and carrier change the price.
Want exact numbers? We’ll compare dozens of carriers for the amount you just calculated — free, no pressure. Many qualify with no medical exam.
Get my quotes → Call 586-343-1505More: mortgage protection insurance · term life · how much life insurance do I need?
Straight answers
Mortgage protection calculator FAQ
What is mortgage protection insurance?
Usually it’s a term life insurance policy sized to pay off your mortgage if you die, with a term that matches the years left on your loan. Unlike lender-sold mortgage life insurance, the benefit goes to your family, not the bank — they decide whether to pay off the house or use it for something else.
How much mortgage protection do I need?
At minimum, your mortgage balance. Most families also add other debts, college, final expenses and some of the breadwinner’s income so the household can keep running — then subtract savings and existing life insurance. The calculator above adds those up for you.
How long should mortgage protection last?
As long as the mortgage: match the term to the years left on your loan — 10, 15, 20 or 30 years. If your loan has 18 years left, a 20-year term covers it with a cushion.
How much does mortgage protection cost?
It depends on age, health, tobacco, coverage and term. For a healthy 35-year-old non-smoker, carrier rate tables put a 30-year, $500,000 term policy at roughly $51–$128 a month for men and $45–$102 for women.
Is mortgage protection insurance worth it?
For most families with a mortgage and one main income, yes: it keeps the house if the breadwinner dies. Term life is usually the most coverage per dollar, and it pays your family directly — which is more flexible than coverage that pays only the lender.
Does mortgage protection need a medical exam?
Often not. Many carriers offer no-exam term life with a short health questionnaire and an instant or same-day decision, especially for younger, healthier applicants and moderate coverage amounts.