Portable across mortgages. If you refinance, sell, or move before your term expires, your term life policy stays in force exactly as written. A lender-tied MPI policy may require re-enrollment or offer no benefit if the loan it was attached to no longer exists.
Where MPI Has an Advantage
No medical exam. MPI policies are typically guaranteed-issue or simplified-issue, meaning no blood draw, no in-person physical, and no detailed health questionnaire. For homeowners with serious pre-existing health conditions who would be rated substandard or declined for standard term life, MPI may be the only viable option for getting mortgage-specific protection. This is MPI’s only legitimate use case advantage.