Up to 5% of your auto and home insurance premium might be
counted toward your life insurance. Give us a call to learn
how.
Home
ownership is the single biggest investment most people will
ever make and with it comes the largest debt most people will
ever incur.
This could be the biggest burden to your family if it is not
properly protected.
Mortgage
Protection life insurance can provide benefits for your family
to pay-off the outstanding mortgage balance or provide income
for future payments. It can make the difference in your family
keeping their home or losing it.
Please let us contact you:
Just fill out
the form below and
licensed agent will contact you same business day. Thank you.
When
mortgage protection is being considered, two financial concerns
should be addressed, death and disability. Today there are
mortgage protection life insurance products in the marketplace
offering a death benefit along with a disability rider.
Policies are
generally available to cover a range of mortgage repayment
periods: 15, 20, 25 or 30 years. The premium payments for
mortgage protection insurance are generally level over time.
If insured
died while the policy was is force, his/her beneficiary would
receive an amount equal to the current value of the policy.
Decreasing term is often used to cover mortgage or credit debt,
because the death benefit decreases as the outstanding balance
is reduced. The idea is that the beneficiary would use the death
benefit to pay off the debt in the event of the insured's death.
Mortgage
life insurance is often confused with Private Mortgage Insurance
(PMI). You buy mortgage life voluntarily to protect your
survivors from having to make the monthly payments. But with
Private Mortgage Insurance, lenders require you to buy a policy
in order to protect them (the lenders) against the possibility
that you will default on the debt.
