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For those who can not obtain other life insurance – due to health, age, or a hazardous occupation – mortgage life insurance may be a way to protect your family when you know they may need it. Unlike a traditional life insurance policy, mortgage life insurance usually requires no medical exam and will insure those who have a known health condition, are older (up to age 65), or have a hazardous occupation. Any stipulations will vary by company but, for the most part, mortgage insurance companies are willing to offer coverage to high-risk individuals.