For many of us, our home is our biggest investment as well as our families refuge. Losing an income can wreak havoc on the family’s finances — and their ability to stay in the home they love. So, what’s the best way to protect your home in case something happens to you? Mortgage protection insurance (MPI) is a type of life insurance designed to pay off your mortgage if you were to pass away — and some policies also cover mortgage payments (usually for a limited period) if you become disabled.