Seriously consider mortgage life insurance. The cost is low and can be incorporated into your mortgage payments. In the event of death, terminal illness, or permanent disability, your balance will be paid in full (the maximum varies among financial institutions).

Your life insurance policy, is just that, life insurance. Most likely this will not be able to pay off your mortgage as well as any other debts you may have. Leaving your loved ones with the cost of theĀ  mortgage payments. Quotes are available with each approved mortgage.