In fact, according to investigations, since its introduction, mortgage insurance has provided practical protection for many purchasers. In 2004, the owner of a high-end residential area in Chengdu and his family tragically fell off a cliff while traveling. His wife applied to the insurance company for compensation based on the mortgage insurance policy she purchased when buying the house. After confirming the insurance liability, the insurance company repaid the remaining principal of 560,000 yuan to the loan bank on her behalf. There are many such cases.