Mortgage disability insurance is criticized by many insurance professionals because this product is very limiting. It is typically offered through the bank (although it can be sold by agents and brokers) and presented at the time the proposed insured is finalizing the details of their mortgage. This can turn it into a “panic buy” when the proposed insured hears, “What if something happens to you? How will you pay your mortgage? Get mortgage disability insurance to protect your finances.” However, the truth is, most mortgage disability insurance policies only cover outstanding mortgage payments for two years – and only pays the bank. Individual disability insurance, on the other hand, covers much more of your expenses and can be for a much longer time period. Individual coverage is more flexible and customizable.