For middle-income Americans, the home is often the biggest investment made. The best way to protect that investment — in case something happens to the breadwinner — is the mortgage protection insurance. Without an insurance policy, the family’s finances could be in jeopardy, and so could their chances of staying in the home. Last year alone, there were over 500,000 foreclosures in the country due to unexpected death or critical illness that created financial hardship and inability to pay monthly mortgage payments.

When you close on a mortgage or home equity line, you’ll likely get an overflow of solicitations for mortgage protection insurance, with few details on what’s actually being sold. It’s typically disguised as communication from your mortgage lender.

Mortgage Protection Insurance is a type of life insurance meant to pay off your mortgage if you were to die. Some policies cover mortgage payments (generally for a limited time) if you become disabled. Also, there are some policies that give you all your money back if you do NOT die by the time the mortgage is paid off. These cashback policies are especially popular with homeowners under 50 years old.