It never fails.  Almost before you can put the key into the door of your new home, you get bombarded with offers of mortgage life insurance to pay off your debt should you meet an untimely demise.

Treat those offers like telemarketers or other junk mail.  Dispose of it immediately.

Most of those policies are exceptionally overpriced and they decrease in worth as you pay off your mortgage.  Certainly not worth the money you pay out, but insurance brokers know how to prey on the fears of the worst to sell you on these plans.

Instead of mortgage life insurance, your better option is to take out a regular life insurance policy that will not only meet the costs of your obligations, but allow your grieving family an income to live on while they cope with their loss.