In truth, there's no difference between life insurance and mortgage life insurance.
Mortgage life insurance is simply a life policy taken out for the specific purpose of paying off your mortgage if you were to pass away during the term.
It's sometimes referred to as mortgage protection or mortgage protection life insurance and often takes the form of a decreasing term policy.
The length of your policy is usually aligned with your mortgage term, protecting your family home and dependants, should anything happen to you.
Therefore, if you have a 25-year mortgage term, your mortgage life insurance policy would run for at least this period of time.
The amount of cover you secure (or sum assured), would also mirror the outstanding balance of your mortgage.
Watch our mortgage life insurance video.