One of the most popular plans used for Mortgage Protection is Indexed Universal Life (IUL). Instead of using basic term insurance, an IUL will not only pay off your mortgage in the event of your passing, it will return 100% of premiums if you don't! There's more. If you get sick and have a critical, chronic, or terminal illness, your IUL policy will pay you for up to 75% of the face amount of your policy -tax free!  If you were to have a heart attack for example, you would likely be out of work without money coming in. On lets say a $200,000 Mortgage Protection Plan, the Critical Illness Benefit would immediately kick in and pay you up to $150,000 cash, tax free, to use at your own discretion for medical bills, mortgage, cars, utilities, college tuition.  The money is yours, no questions asked. This is a remarkable life benefit that makes using IUL for Mortgage Protection a stellar choice.