---
title: Mortgage Protection Insurance in Montana | Coverfolk
url: https://coverfolk.com/states/montana/mortgage-protection
updated: 2026-10-08
---

# Mortgage protection insurance in Montana

Keep the house paid for your family. Local numbers and Montana rules.

[Call free (888) 635-3511](tel:+18886353511)

Updated October 8, 2026[Fact checked](/editorial-standards)

The short answer

About 174,000 Montana homes still have a mortgage, 54% of owned homes. The typical owned home is worth $425,400. A term policy sized to your loan keeps the house paid if you pass away.

Homes owned
:   69%

Owned homes with a mortgage
:   54%

Typical home value
:   $425,400

Median household income
:   $75,340

Census ACS 2024 one year estimates.

## How it works

Mortgage protection is life insurance sized to your home loan. The money goes to your family, not the bank, and they choose how to use it. It is not PMI, which protects the lender.

A regular level term policy can do the same job, often for less. Match the term to the years left on your loan. [Mortgage protection vs term life](/compare/mortgage-protection-vs-term-life).

## Montana rules

* Free look: 10 days
* Grace period: 30 days
* Guaranty protection: $300,000

[Mortgage protection calculator](/mortgage-protection-calculator)

## Common questions

Is mortgage protection insurance required in Montana?

No. Lenders can require homeowners insurance and sometimes PMI, but not mortgage protection life insurance. It is your choice.

How much mortgage protection do I need in Montana?

Start with your loan balance. The typical owned home in Montana is worth $425,400. Use our calculator to add a cushion.

What if my insurer fails in Montana?

The Montana Life & Health Insurance Guaranty Association protects up to $300,000 in death benefits per person.

## Sources

1. [Census ACS 2024 1 year estimates, table based summary file](https://www2.census.gov/programs-surveys/acs/summary_file/2024/table-based-SF/)
2. [CFPB: What is private mortgage insurance?](https://www.consumerfinance.gov/ask-cfpb/what-is-private-mortgage-insurance-en-122/)
3. [New York DFS: Types of Life Insurance Policies](https://www.dfs.ny.gov/consumers/life_insurance/types_of_policies)
4. [Montana Life & Health Insurance Guaranty Association](http://www.mtlifega.org)

Questions? [Call free (888) 635-3511](tel:+18886353511). Answered 24/7.