How To Apply For MPI And the Claims Process
Some FAQs. Clear, simple, transparent information to help you protect your family
1. What is the process to get mortgage protection insurance with MoProInsure?
The process with MoProInsure is designed to be simple and straightforward. It typically involves three steps:
Requesting a personalized quote.
Completing a short application with one of our licensed agents.
Upon approval from the carrier, signing the policy documents electronically. Start your application today—it only takes a few minutes.
2. What information do I need to apply for MPI?
You will generally need basic personal information (name, address, date of birth), details about your mortgage (lender name, loan balance, remaining term), and answers to some basic health questions.
3. How long does it take to get approved for mortgage protection insurance?
Because many MPI policies don’t require a medical exam, approval can be very fast, most in just a few minutes. However, the exact timeline depends on the specific insurance carrier and the individual application.
4. Why should I choose an independent agency like MoProInsure for my MPI?
Choosing MoProInsure means you have an advocate working for you, not for one insurance company. We provide access to multiple carriers for comparison, professional guidance in choosing the right product, and dedicated support throughout the entire process. We also conduct periodic reviews of all the policies we issue in order to determine if our clients would benefit from an upgrade or policy change.
5. What happens after I'm approved?
Once the insurance carrier approves your application, you will receive your policy documents to review and sign electronically. Your coverage begins on the date specified in the policy, as long as you make your first premium payment. Ready to get started? Schedule your free consultation now.
6. How does my family file a claim?
Your family would simply contact us or the insurance carrier directly. The carrier’s claims department will then process the claim and, upon approval, pay the benefit according to the policy’s terms.
7. How long does it take for a claim to be paid?
Once all the necessary documentation is received, life insurance claims are typically processed and paid very quickly, often within a few weeks, unless there are unusual circumstances or the death occurs within the policy’s two-year contestability period.
8. What happens if I move or refinance my mortgage?
Refinancing your mortgage or moving will have no effect on your coverage, or your premium, as long as you continue to pay the premium. Your original MPI policy will stay in place, and the benefit(s) will remain the same because while the policy was based on your mortgage payment or mortgage amount, it was not tied to any specific loan.
9. Can I cancel my mortgage protection insurance policy?
Yes, you can cancel your policy at any time for any reason. If you cancel, your coverage will end, and you will not receive a refund of premiums paid.
10. Is there a waiting period before the policy will pay out?
For most policies, once your coverage is active, you are fully covered as explained in the policy documents. For death due to illness, nearly all life insurance policies include a two-year “contestability period.” During this time, the carrier can investigate a claim to protect against significant misstatements on the application.
11. What if my mortgage is already several years old, can MoProInsure still help?
Absolutely. It’s never too late to protect your home. A MoProInsure specialist can help you find a policy with a term length that matches the remaining years on your mortgage.
12. I'm ready to protect my family. What's the next step?
The next step is a brief, no-obligation consultation to confirm your eligibility and review your personalized quotes. Pick a time on the MoProInsure calendar that works for you. It’s the easiest way to secure your home and protect your family.
- Clear, Honest Advice
- Access to 20+ A-Rated Carriers
- Lifetime Policy Support