Thanks for stopping by today to learn more about our Mortgage Protection Insurance products and how they may benefit your family.
In this post we are going to spend our time focused on what mortgage protection life insurance is and why should make sure you have this type of life insurance in place.
So let’s begin…
For starters let me be clear.
Mortgage protection insurance can vary depending on the company you choose to purchase your coverage from.
Some companies won’t write a product unless you actually own home and have a mortgage in place.
The good news for you is that none of the carriers that we write business from have this requirement in place.
Mortgage protection life insurance is a term life insurance product that is also sold as “term life insurance.”
The design of this product is to help keep your family in their home in the event either spouse (insured) passes away.
This works especially well in situations where a husband or wife might earn the majority of the income and that particular spouse passes away suddenly leaving behind the spouse and children with the same financial responsibilities they had while the named insured was alive.
In the event the primary working spouse passes away the named beneficiary would notify their agent and then we would notify the Insurance Carrier of our clients death and begin the process of filing the claim.
If you have Mortgage Protection Term Insurance in place you can make sure that whatever income you were earning is replaced.
While we will readily state that you can never replace a loved one, you can replace their income with the right amount of Mortgage Protection in place.
One of the features of our Mortgage Protection Insurance Products is our products do not require in-depth underwriting.
In most cases the policy will issue within a few days after submitting the application as long as you can ethically answer a series of health related questions and underwriting reports come back clean we can help you get the coverage you need.
Depending on the carrier you choose there are certain riders (policy attachments) that can prove to be extremely beneficial to you as well.
- Return of Premium
- Partial Return of Premium
- Terminal Illness
- Catastrophic Illness
- Child’s Term
- Disability Income Rider
If you do not currently have mortgage protection term life insurance in place be sure to reach out to us so that we can see if you qualify today while you still have your health.