Mortgage protection insurance (MPI) is a valuable financial instrument designed to protect homeowners from the financial burden of mortgage payments in the event of certain unforeseen circumstances.
MPI provides peace of mind by ensuring that mortgage payments can be made if the homeowner is unable to do so due to death, disability, or unemployment. For instance, if the homeowner were to pass away, MPI could provide the funds necessary to cover mortgage payments until the home can be sold or refinanced by the heirs.