Insurance to Pay Off The Mortgage
I am looking for Minnesota Mutual Insurance for which I was referred by Third Federal Bank in Cleveland, Ohio. I would like the insurance that covers a home in all areas and the coverage would include a pay off at the death of the homeowner.
I'm not sure why you were referred to this company, unless it was because you wanted coverage that would pay your mortgage off at the death of the homeowner. In fact, Minnesota Mutual only deals in life insurance, and doesn't have homeowners insurance of any kind.
I would look for homeowners insurance separately from any "death benefit" that would pay off your mortgage. In order to get your mortgage paid off in the case of your death, you can buy enough life insurance to cover the outstanding balance (and any penalties), and have the money go to your estate. In most cases, term life insurance will cost less than mortgage insurance, based on the cost versus the benefit you receive.
If you still want mortgage insurance to pay off your mortgage on the death of the owner, I'd speak with your lender. Most lenders now offer this kind of insurance.