Do you need life insurance in order to have a home loan?  How long do you need life insurance for?  Why get it?  Who needs to have it? I get it, life insurance is recommended to you by the bank when you buy a house.  They are responsible for making sure you don't get yourself into too much debt.  They have a duty to make sure you and your family will be ok should something terrible happen.  There are a few points I would like to make with regards to this. One of the main reasons that people get life insurance when they get the mortgage is, they don't want their family to be left with their mortgage.  Well, as a mother or four and grandmother of many more, I can tell you this for free:  My children will inherit my property, and the property will always be worth more than any debt against it.  They will end up with money if they sell everything up, a substantial amount of money. If they don't want to sell my property they have done nothi...