Homes are an incredibly expensive investment and will make up a large portion of your expenses. In most cases, financial stress is limited if you bought a home you can afford and your mortgage payments are manageable. However, what happens when an emergency strikes and you are no longer able to afford your monthly home loan? In these cases, insurers came up with a product called mortgage insurance (also known as Mortgage Reducing Term Assurance (MRTA)) that will be able to cover your remaining mortgage expenses if you die, become totally and permanently disabled or suffer a terminal illness. But while the allure of the plan may be clear, it is an added expense that you will have to add to your monthly bill. In that sense, it is important to find out—when does your current situation really require you to get mortgage insurance? Useful If: If You Are Looking...