Protect your Michigan home and family with affordable mortgage protection insurance. Instant quotes, licensed Great Lakes agents, coverage up to $1M, and quick estimates via our Mortgage Protection Calculator.
Michigan's housing market remains competitive, with lakefront communities and suburbs around Detroit, Grand Rapids, and Ann Arbor pushing above $350,000. Mortgage protection keeps those homes secure if a wage earner passes away.
Lean manufacturing, health care, and tech employers drive much of the state's economy. Mortgage protection provides continuity for families when layoffs or accidents interrupt that income.
Michigan homeowners often spend $1,300-$2,600 per month on mortgage payments, plus higher winter utility bills. Mortgage protection eliminates those obligations the moment beneficiaries file a claim.
Here's what Michigan residents typically pay for mortgage protection insurance:
| Age | $200K Coverage | $300K Coverage | $400K Coverage |
|---|---|---|---|
| 30 years old | $18-24/month | $26-36/month | $34-46/month |
| 35 years old | $22-30/month | $32-44/month | $44-60/month |
| 40 years old | $30-40/month | $42-58/month | $58-76/month |
| 45 years old | $42-58/month | $58-80/month | $80-110/month |
| 50 years old | $60-82/month | $82-112/month | $112-150/month |
*Rates for non-smokers in good health for 20-year level term policies. Actual rates vary by insurer and health status.
Auto and supplier layoffs can happen quickly. Mortgage protection insurance ensures your home is secure even if income disappears during an industry downturn.
The state offers property tax credits for qualifying households. Paying off the mortgage with life insurance helps family members continue claiming those credits.
Snow and ice increase accident risks throughout the winter. Mortgage protection pays regardless of the cause of death, including weather-related incidents.
Many Michigan families maintain both primary and seasonal homes. Mortgage protection keeps the main residence secure while freeing savings to maintain the cottage or cabin.
These carriers are licensed in Michigan and offer competitive mortgage protection insurance rates:
A: Traditional term life covers many expenses, but a dedicated mortgage protection policy ensures the loan is retired immediately so other life insurance funds stay earmarked for retirement or college.
A: Yes. The death benefit pays whatever balance remains, even if the mortgage is upside down due to market swings.
A: Several carriers offer discounts or simplified underwriting for veterans. Mortgage protection pairs well with VA loans to keep the home in the family.
A: Coverage typically starts the day the first premium is drafted, which can be within 1-2 days of approval for simplified-issue policies.
We provide mortgage protection insurance quotes and coverage throughout Michigan, including:
Use these curated resources to compare Michigan mortgage protection plans and stay confident in your decision.
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