Mortgage Protection Insurance (MPI) is built to pay off your home — or cover your monthly payments — if you pass away, become disabled, or face a critical illness, so your family never has to worry about foreclosure.
Florida Mortgage Protection plans (MPI) are specialized life insurance policies designed to pay off your home or cover your monthly mortgage payments if you pass away, become disabled, or suffer a critical illness.
These plans protect your surviving family members from foreclosure or a crushing debt burden if you're no longer there to provide income — keeping them in the home you worked to provide.
The policy term is typically structured to match the length of your mortgage, so your protection lasts exactly as long as you need it.
If you pass away during the policy term, the insurer pays out a lump sum. Your beneficiaries can use the funds to pay off the remaining mortgage balance or cover other living expenses.
Many plans include optional riders that activate if you become critically ill or are unable to work due to an accident or disability — helping cover payments while your income is interrupted.
The policy term is typically structured to match the length of your mortgage — commonly 15, 20, or 30 years — so your coverage lasts exactly as long as the loan does.
The coverage amount decreases proportionately as your outstanding mortgage balance goes down over the years — matching your protection to what you still owe.
The death benefit stays the same throughout the life of the policy, so your family can receive a surplus payout once the mortgage is covered.
A policy type that refunds all of the premiums you've paid if you outlive the term without ever using the insurance.
These names get confused all the time. Here's who each one actually protects.
Optional life insurance that pays off your mortgage or covers payments if you die, become disabled, or face a critical illness. The payout goes to your family to keep the home.
Private Mortgage Insurance (or FHA's MIP) is required by lenders when your down payment is under 20%. It protects the lender — not you — in case you default on your loan.
Covers your physical property against damage from disasters like hurricanes or fires. Essential in Florida — but it does nothing to pay your mortgage if you lose your income.
This page is general information, not a policy or financial advice. Plan features, riders, eligibility, and pricing vary by carrier and by your individual situation. A licensed Divito Insurance advisor can help you compare options and find the right fit. Divito Insurance LLC is licensed in Florida (Lic. #L106623).