FAQ - Mortgage Life Insurance

Q: What is Mortgage Life Insurance?

Mortgage Life Insurance ensures that your loved ones will continue to have a place called home in the event that you’re no longer there to care for them. The Mortgage Life Insurance plan is designed to pay off the outstanding mortgage balance on your home if you die during the term of the loan.

Q: How does it differ from regular life insurance?

This plan offers you an affordable way to make sure the benefits will be used to pay off your mortgage. Mortgage life insurance takes care of your outstanding mortgage loan so that your other insurance policies, if available, can be used to cover expenses like monthly bills, a college education or retirement.

Q: What does it cover?

Mortgage Life pays a benefit for any cause of death, with the exception of suicide committed during the first two years of coverage.

Q: Can my spouse or co-borrower be covered also?

Many households rely on two incomes to make ends meet. Mortgage life insurance provides a way to insure against the loss of a working spouse or co-borrower at a premium that is half the cost of the premium rate of the oldest of the co-borrowers.

Q: Is the premium convenient to pay?

As long as you're a homeowner under age 65, you're eligible to apply. Once your coverage is approved, your premium will be automatically billed and collected with your monthly mortgage payment, so there's no extra bill to bother with each month.

There's absolutely no risk in applying for the mortgage life insurance plan. You may cancel your coverage at any time. Once you've been approved for coverage, a policy or certificate of insurance will be sent to you with the coverage details. You'll have 30 days to look it over. If you decide this coverage isn't for you, simply return the policy or certificate to us and your coverage will be canceled. If any premiums were paid in that time, they will be promptly returned.


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First Hawaiian Bank
PO Box 3200
Honolulu, HI 96847