Life insurance
Pays a death benefit for a covered death under the policy. The beneficiary and policy terms determine where the money goes.
JUST PURCHASED A HOME?
Mortgage and income protection
for your family.
You have the keys. Now think about how your family would keep up with the mortgage and everyday bills if you died. Life insurance can help provide that financial support.
Free review with Timmy. No obligation to buy.
PROTECT THE LIFE YOU ARE BUILDING
The house matters.
So does life inside it.
After a death, a family may need help with more than the loan. Groceries, childcare, property taxes, and utilities can continue. A life insurance review looks at those responsibilities together.
With traditional life insurance, a covered death results in a benefit paid to the beneficiaries you name. They can generally use the money for mortgage payments, living expenses, or other needs. Some loan-specific credit life policies pay the lender instead. Always confirm who receives the benefit.
Here, income protection means support after the insured person dies. Standard life insurance does not automatically replace wages during disability or unemployment.
Sources: Texas Department of Insurance life insurance guide and NAIC credit insurance guidance.
THREE DIFFERENT JOBS
Know which protection
you are paying for.
PMI
Private mortgage insurance protects the lender if you stop repaying the loan. It may be required for certain mortgages. It is not family life insurance.
Homeowners insurance
Covers specified property losses and other risks under its terms. Lenders commonly require it. It does not replace a life insurance death benefit.
Sources: CFPB explanations of private mortgage insurance and homeowners insurance.
A PLAN YOU CAN KEEP
Match the years.
Review the whole budget.
Term life insurance covers a selected period. It is one option to compare when your goal is support during the mortgage years or while children depend on your income.
Discuss how long protection is needed, whether the quoted premium stays level, and what happens at the end of the term. Include existing policies and workplace coverage in the review.
A useful question before choosing an amount
Would you want the benefit to help pay off the mortgage, help make monthly payments, or support another plan? Avoid counting the same mortgage cost as both a full payoff and monthly support for the same years.
Try the free family needs calculatorUse the homeowner planning checklist to prepare. Choose a payment that fits beside your new housing costs, including a tighter month.
More information: NAIC Life Insurance Buyer’s Guide.
HOMEOWNER QUESTIONS
Get clear before
you choose.
Bring the questions your closing paperwork did not answer.
Compare offers with the free worksheetDo I need life insurance when I buy a home?
A new mortgage is a useful reason to review coverage. Life insurance for family mortgage protection is generally optional; check your actual lending requirements. The question is how your household would handle the mortgage and other bills after a death, using existing savings and coverage too.
Does mortgage protection automatically pay off the loan?
No. The benefit amount may be smaller than the loan, and payment depends on a covered claim. A traditional life insurance beneficiary may choose how to use the benefit. A credit life policy may pay the lender directly. Read the actual policy.
Will it pay my mortgage if I am disabled or lose my job?
Standard life insurance does not automatically cover these events. Disability coverage or specific additional benefits require a separate review. A waiver-of-premium feature, if available and triggered, may cover the insurance premium; it does not itself pay your mortgage.
What if I already have insurance through work?
Bring the amount and terms to the review. Check whether it is enough for your household and what happens if you change jobs. Existing employer or personal coverage can reduce the additional protection you may need.
Can I review coverage after refinancing or moving?
Yes. A changed loan balance, payment, or term is a reason to review your needs. Keep existing life insurance in place while comparing. A new mortgage does not automatically mean you should replace a policy.
Published by Legacy Financial Group · October 8, 2026. General education, not a coverage quote or approval. Eligibility, premiums, benefits, and exclusions depend on the insurer, product, and state.
Additional reading: Texas Department of Insurance: disability insurance. Ask about actual policy benefits; do not assume a feature is included.
BASED IN HUNTINGTON. HERE FOR YOUR NEXT CHAPTER.
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