Mortgage Protection Insurance Helps Cover Your Family's Home

Your home may be one of the biggest investments you'll ever make, and your family probably depends on your income to help make the mortgage payments. So in the event of your death, your loved ones might struggle to keep the home. You can help prevent that from happening. Take an important step now to help protect your home and family with a State Farm® Mortgage Life insurance policy.

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Sample rates are for a 25-year-old female in excellent health in Illinois. Get a quote to see personal pricing.

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Mortgage Life Insurance

How it Works

A mortgage term life insurance policy helps guarantee your loved ones a tax-free benefit in the event of your death — funds they can use to help with mortgage payments.

  • Policy terms are available for 15 or 30 years.
  • Premiums can be paid monthly, quarterly, semi-annually, or annually.
  • You can choose the coverage you need based on your mortgage balance. After the first five years, the death benefit, which is intended to behave like your mortgage, decreases over the life of the policy, but will never be less than 20% of the original face amount of insurance.
  • Premiums are scheduled to be level for the life of the policy. Your premiums may be raised or lowered after you have had the policy for five years, but they will never exceed the maximum premiums stated in the policy.
  • No matter how large your death benefit, it passes to your beneficiaries generally income tax-free.
  • If you have auto insurance with State Farm, purchasing a State Farm Mortgage Life insurance policy may entitle you to a discount on your auto premiums with our multi-line discount.

Need lifelong coverage? Just convert your mortgage term life insurance policy to permanent coverage and premiums any time the policy is in force — no matter what your state of health.1

Customize Your Policy

Add value to your Mortgage Life insurance policy with options and riders.2

Mortgage Life Rider

Provides additional coverage with the same features as a Mortgage Life insurance policy. This rider can provide coverage for either 15 or 30 years.


Mortgage Life Rider (Additional Insured)

Provides coverage on another person with the same features as a Mortgage Life insurance policy. This rider can provide coverage for either 15 or 30 years.


Waiver of Premium for Disability

Helps preserve your policy at a time when income may be limited due to a disability. If the base insured becomes totally disabled (as defined in the policy) prior to age 60 for six continuous months, this optional coverage will waive future policy premiums as they become due as long as the insured remains totally disabled. If the base insured becomes disabled between the ages of 60 and 65, this coverage will waive future policy premiums as they become due until the later of the third anniversary after disability and age 65, so long as the base insured continues to be so disabled. This rider coverage automatically terminates on the policy anniversary when the insured is age 65, unless disability occurs prior to that time.



1 Conversion options may vary by state. Please talk with your State Farm agent.

2 Insurance policies and/or associated riders and features may not be available in all states, and policy terms and conditions may vary by state.

This is only a general description of coverage. A complete statement of coverage is found only in the policy. For more details on coverage, costs, and restrictions, or to apply for coverage, contact a local State Farm agent.

There are limitations and conditions regarding payment of benefits due to misrepresentations on the application or when death is the result of suicide in the first two policy years.

Policy Series Info

View Licensing Information

Issued by:

State Farm Life Insurance Company (Not licensed in MA, NY or WI)
State Farm Life and Accident Assurance Company (Licensed in NY and WI)
Bloomington, IL