MORTGAGE PROTECTION
What is Mortgage Protection ?
When you pass away, you want to make sure that your home remains an asset and doesn’t become a liability. However, you understand that when your spouse is faced with the challenge of reducing to one income, or your kids are suddenly responsible for a mortgage they didn’t budget for, keeping your home when you pass could be a significant challenge for the people you love. You don’t want them to lose the home, or all of the equity in it. So, you get Mortgage Protection Insurance.
Mortgage Protection can be achieved in a few different ways
This options does exactly what it says…when you pass away, your beneficiary gets a check to pay off the mortgage in its entirety.
Most people understand that by the time they pass, they will have paid down their mortgage from where it stands today. So, they opt to get coverage equivalent to 75%, or 50% of today’s balance.
This option ensures your beneficiary receives a specified number of mortgage payments after your passing, preventing the loss of the home and its equity. It allows them time to prepare the home for sale if they choose, easing their transition without the stress of immediate financial burden.
Let's make sure your home never becomes a liability to your loved ones.
Mortgage Protection FAQ's
We have many plans that are non-medical, meaning that no labs are needed. However, depending on what you decide is the best plan for you and your family, labs may be required. Rest easy though! You won't have to go anywhere as we will make sure they come to you for the labs if they are needed.
Your beneficiary simply gets to keep the difference!
