If something happens to you, your family keeps the house.
Mortgage protection insurance is life insurance that pays off your home loan if you pass away — so your family can stay in their house instead of scrambling to make payments. Most Dayton homeowners qualify with no medical exam, and because I'm independent I shop 30+ companies to find the lowest rate for your loan, age and health.
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What mortgage protection insurance actually is.
It's not a bank product and it's not PMI. It's a life insurance policy you own, sized to your mortgage, that pays your family a tax-free benefit so they can keep the home if you're gone.
PMI (private mortgage insurance)
Required by the lender when you put less than 20% down. It protects the bank if you default. Your family gets nothing. You can't choose it and you can't keep it.
Mortgage protection (life insurance)
Protects your family. If you pass away, it pays a tax-free benefit they can use to pay off the mortgage and stay in the home. You own it, control it, and keep it if you move or refinance.
Mortgage protection cost by loan size and age.
Mortgage protection is priced like level term life — the younger and healthier you are, the less it costs to cover the whole loan. Here's a realistic starting point for a healthy non-smoker in the Dayton area.
| Age | $150,000 | $250,000 | $400,000 |
|---|---|---|---|
| 30 | $18/mo | $26/mo | $38/mo |
| 35 | $20/mo | $30/mo | $44/mo |
| 40 | $26/mo | $40/mo | $60/mo |
| 45 | $38/mo | $58/mo | $88/mo |
| 50 | $56/mo | $88/mo | $135/mo |
Sample monthly rates for illustration — starting points only, subject to health, carrier and underwriting. Your real quote may be lower. Not a guarantee of coverage or price.
| Age | $150,000 | $250,000 | $400,000 |
|---|---|---|---|
| 30 | $15/mo | $21/mo | $31/mo |
| 35 | $16/mo | $24/mo | $35/mo |
| 40 | $20/mo | $30/mo | $45/mo |
| 45 | $29/mo | $44/mo | $66/mo |
| 50 | $42/mo | $65/mo | $98/mo |
Sample monthly rates for illustration — starting points only, subject to health, carrier and underwriting. Your real quote may be lower. Not a guarantee of coverage or price.
Smokers, larger loans, or certain health histories run higher — but that's exactly where shopping 30+ carriers pays off. One company's decline or rate-up is another company's standard rate. That's the whole point of using an independent agent.
I shop these carriers so you don't have to.
A captive agent quotes one company. I compare these (and 30+ more) to match the right carrier to your loan, age and health — same coverage, often a noticeably better price.
| Carrier | Best for | No-exam option | Typical issue ages |
|---|---|---|---|
| Banner Life | Lowest-cost level term to match a 15–30 yr mortgage | Up to $2M (healthy applicants) | 20–75 |
| Protective | Long terms + flexible riders | Up to $1M | 18–75 |
| Ethos | Fast 100% online, same-day decision | Up to $2M | 20–65 |
| Mutual of Omaha | Living benefits (terminal/chronic illness) | Up to $300K simplified | 18–80 |
| North American | Return-of-premium options | Varies | 18–75 |
Representative shelf — I shop 30+ companies and match the carrier to your age, health and budget. Availability and underwriting vary.
Built for Dayton homeowners.
What Dayton-area homeowners should know
- 📍Ohio gives you a 30-day free look on new life policies (Ohio Dept. of Insurance) — review your coverage risk-free before it's final.
- 📍Closing on a home in Kettering, Beavercreek, Centerville or Huber Heights? That's the ideal moment to lock a low rate while you're young and healthy.
- 📍Your policy is independent of your lender — refinance or sell anywhere in the 937 and your coverage goes with you.
- 📍A level-benefit policy stays the same even as your mortgage balance drops — so the extra can become income or final-expense protection for your family.
Reviewed by Antwan Lawrence
Independent life insurance agent · Licensed in Ohio · Serving Dayton & the 937. Antwan is appointed with 30+ A-rated carriers and specializes in no-exam coverage for local families.
Last reviewed June 2026. Questions? Call or text (937) 554-7159.
Mortgage protection questions, answered.
Is mortgage protection insurance the same as PMI?＋
No. PMI (private mortgage insurance) protects your lender if you stop paying — it does nothing for your family. Mortgage protection is life insurance that pays your family a tax-free benefit they can use to pay off the mortgage if you pass away. You own the policy, not the bank.
Do I have to buy mortgage protection through my lender?＋
No, and you usually shouldn't. Lender-offered policies are often 'decreasing term' tied to your loan balance and can cost more. As an independent agent I shop 30+ companies for a level-benefit policy you own and control — often for less.
Do I need a medical exam for mortgage protection in Ohio?＋
Usually not. Most of my Dayton clients qualify for no-exam coverage approved with a few health questions, often in minutes. Larger loan amounts or certain health histories may need more underwriting — I'll tell you up front.
How much mortgage protection coverage do I need?＋
A simple starting point is your remaining mortgage balance, plus a cushion for taxes, insurance and a few months of expenses. Many Dayton families also add enough to cover income replacement. We'll land on the right number together — no pressure.
What happens to the policy if I sell or refinance my home?＋
Because you own the policy (not the bank), it stays with you. If you sell, you keep the coverage. If you refinance, you can keep the same policy or we can right-size it to your new balance and term.
Can I get mortgage protection if I'm a new homeowner?＋
Yes — that's the most common time to get it. Closing on a home in Kettering, Beavercreek or anywhere in the 937 is the ideal moment to lock in a low rate while you're young and healthy. Coverage can be in place within days.
I shop the names you trust.
…and 30+ more, so you always get a real comparison.
Protect the home your family loves. Let's make it simple.
Free quote, no exam for most policies, no pressure. It takes about 10 minutes.