Mortgage
Protection Insurance

PMI (private mortgage insurance) is required by your lender when your down payment is under 20%. It protects the lender if you default on the loan. It does nothing for your family. Mortgage protection insurance is a life insurance policy you own. If you pass away, the benefit is paid tax-free to your beneficiary, who decides how to use it. Your family is protected. The bank is not the beneficiary.

Whole life equity protection is a permanent life insurance policy sized to your home's value or mortgage balance. Unlike a term policy, it never expires as long as premiums are paid, builds real cash value you can borrow against tax-free, and protects your family's equity indefinitely. Term mortgage protection is sized to your loan balance and runs for the length of your loan term. It costs less per month but expires when the term ends.

Most mortgage protection plans use simplified underwriting, which means no medical exam is required. You answer a brief set of health questions over the phone, typically 10 to 15 minutes. Applicants with common health conditions such as diabetes, high blood pressure, or past heart issues may still qualify through certain carriers that Asurgo works with.

No. The benefit is paid directly to your named beneficiary, not the bank. Your family decides how to use it. They can pay off the mortgage in full, continue making monthly payments, cover property taxes and insurance, or use the funds in any way that best supports them.

Your policy belongs to you, not your mortgage. If you refinance, your Asurgo specialist can help you evaluate whether to adjust, replace, or simply continue your coverage under the new loan terms. Whole life equity protection remains in force regardless of refinancing, and your cash value continues to grow. If you sell, you may continue the policy or work with your specialist to transition coverage.

Rates depend on your age, health, coverage amount, and whether you choose term or whole life. Many homeowners in their 40s find term coverage for $50 to $100 per month. Whole life equity protection is higher due to the permanent coverage and cash value component. The only way to get an accurate number is to speak with a licensed specialist. It takes about 10 minutes with no obligation.

No. Your premium is locked at the rate established on your approval date. It will not increase for the life of the policy, regardless of changes to your age or health. You pay the same amount in year one as you do in year twenty-five.

Pre-existing conditions do not automatically disqualify you. Asurgo works with 25+ carriers, and some are significantly more lenient than others on specific health conditions. If one carrier declines you, another may approve you at a standard rate. A specialist will match you to the right carrier based on your actual health history.

Yes. Whole life policies build cash value over time that you can borrow against tax-free. Many homeowners use this as a supplemental source of retirement income, an emergency reserve, or to fund a child's education. The loan does not require credit approval, and any unpaid balance is simply deducted from the death benefit.

Asurgo works with over 25 top-rated carriers including Mutual of Omaha, Transamerica, North American Company, American Equity, Foresters Financial, and others. We are independent, not captive to any single company, which means we compare all of them and recommend the best option for your loan balance, age, and health situation.