Paying a mortgage can become a huge burden if the primary source of income is lost, either temporarily or permanently. Many families are forced out of their home without recouping any of the equity they have built because they were not prepared for the unexpected. Mortgage protection insurance provides one of the strongest safeguards for securing your home for you and your loved ones in the event of illness or death by providing a lump sum benefit to pay off mortgage debt. Most mortgage protection plans provide coverage for a term, which typically matches the term of the mortgage loan. Chances are if you are paying a mortgage you have more than likely received offers for Mortgage Protection Insurance. While Mortgage Protection Insurance is highly sought after to primarily protect a family’s largest asset with a tax-free benefit, it can also provide a return of premiums and other valuable living benefits, giving it an advantage over traditional life insurance policies.