Should something tragic result in your spouse's passing, your spouse would be able to pay off the mortgage on your home. It would allow surviving family members to use other existing insurance to carry on with life, maintain their lifestyle and recover from your loss.

Taylor Mortgages offers a type of insurance for your mortgage that is different from the one a bank might offer. It's called portability. That means that when you renew your mortgage, you don't have to re-qualify or lose coverage - no matter how many houses you move to or lenders you switch to in the future. The premiums also don't increase if something changes with your health, or as you get older.

The Mortgage Protection Plan includes two vital insurance products for your mortgage protection: Life Insurance and Total Disability Insurance.

If you buy a life insurance policy, your mortgage is protected if something happens to you. This will happen even if you have an accident or get sick and can't work anymore. Most other life insurance policies only protect you when you die.