How does home loan/mortgage insurance work?

Deed or Debt? which would you choose to leave your family? your home loan insurance will protect your “lender” if you default or die But it will not cover your loan outstanding at your death or when you are diagnosed with a choronic illness.your loan balance will still remain as unpaid and foreclosure action will be taken by the trustee.
Of course, you purchaseed your home for the family, and you would probably do whatever you could to keep the family in it as long as want it to continue to provide enviroment for growth, security and safety for many years to come. you want your family to keep their home or you would not have bought it.
Remember, unfortunately, time may not be on your side.
Of All of the new homeowners age 35 who start to pay a 30 year mortgage, one of every seven will die or hit with a critical illness like heart attack or cancer before the mortgage is paid off. 20 – 30 years is a very long period.
There is a solution, Term Life Insurance or Whole life insurance. however, that will protect your family and the home they live will pay off the mortagage balance in full, free your family from worry, keep your family in their home, in their neighbourhood for a small premium. The good news is, if you don’t die or fall critically ill, the company will return all those premium back to you with a better interest than your bank is going to pay for savings account. Young male can purchase $500,000  term insurance policy for 30 years for less than $15,00 a month. this will assure your family a DEED but not a debt. I would suggest you to get a quote from a life insurance comparison service provider as they are unbiased to insurance companies in offering you the best and lowest quote. I would personally suggest or for best rates.