This calculator helps you estimate your monthly premium for a mortgage protection policy based on your age and desired coverage amount. Mortgage protection insurance is a type of life insurance designed to cover your mortgage balance if you pass away, providing financial protection for your loved ones.

Here’s how it works:

1. Enter Your Age: Type in your age. Premium rates generally increase as age goes up because the insurance risk increases.

2. Enter Your Coverage Amount: Enter the amount of coverage you’d like. Coverage amounts are available from $100,000 up to $400,000. Higher coverage will naturally mean a higher monthly premium.

3. Automatic Calculation: The calculator uses a table of predefined rates based on age groups and coverage amounts. If your age or coverage amount falls between two predefined values, the calculator finds an estimated premium using a method called “interpolation.” This means it calculates a rate that makes sense based on your exact age and coverage amount, even if it’s not an exact match with the table.

4. View Your Premium: Once you’ve entered your information, the calculator shows your estimated monthly premium.

This is a quick, easy way to get an idea of how much you might pay monthly for mortgage protection based on your specific needs!