This is a question many homeowners may ask themselves when considering life insurance protection for their home mortgage.
In fact, many insurance companies do not require you to take a medical exam to qualify for mortgage insurance.
However, the amount of coverage available and the rates you pay will vary by insurer.
So, how much coverage can you get to help pay off your mortgage loan if you pass away?
The amount will vary by company, but some insurers offer as much as $500,000 of life insurance coverage without any exams, just a few health questions.
How many years can you get coverage with no exam? Well, it's mostly term life insurance that is available, which means you will probably be offered coverage for a term, or period, of 10, 15, 20, or 30 years - depending on how old you are now.
That means, you may be able to qualify for up to $500,000 of term life insurance with no exam with coverage for up to 30 years.
Learn more about mortgage insurance no physical exam required.
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