Does PMI pay off my mortgage if I die?

No. PMI is designed to protect the lender against certain losses from borrower default. It is not a life insurance death benefit for your family.

Is mortgage protection the same as homeowners insurance?

No. Homeowners insurance generally addresses covered property and liability risks. Mortgage protection, as Curo uses the term, generally refers to life insurance considered for mortgage-related household needs.

Does mortgage protection coverage have to equal my mortgage balance?

Not necessarily. The amount of life insurance to review depends on household goals, existing coverage, savings, budget and other obligations.

For many conventional mortgages, federal law provides cancellation or automatic-termination rights after specified conditions are met. The exact rules depend on the loan, so homeowners should confirm their situation with the mortgage servicer.

CURO INSURANCE

Mortgage Protection vs. PMI: Key Differences | Curo Insurance

Learn how mortgage protection life insurance differs from private mortgage insurance (PMI), who each protects, and what homeowners should review.

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