Home Sweet Home. Protect your Home, Family, and Income.
Your home is one of the biggest investments you’ll ever make, and mortgage protection insurance can be one of the strongest safeguards for securing your home for you and your loved ones in the event of illness or death by providing a lump sum benefit to pay for or pay-off your mortgage. If the primary source of income is lost, paying a mortgage can become a huge burden. Many families are forced out of their homes without recouping any of the equity they have built because they were not prepared for the unexpected. Having the right insurance policy in place can safeguard your family from losing your home.
Traditional mortgage protection insurance is a type of life insurance that pays off the mortgage if the borrower dies prematurely. The plan provides decreasing coverage for the term of the mortgage loan. Your lender is your beneficiary, and it uses death benefit money to pay off the debt. Traditional mortgage protection insurance policy has no flexibility whatsoever, meaning your family doesn’t have the option to use the coverage to pay for funeral costs or replace lost income.
Traditional Mortgage Protection programs offer basic death benefit coverage, while Mortgage Protection Term Life Insurance policy with Living Benefits pack a significant list of additional benefits for the family. Choosing Term Life Insurance with Living benefits can bring enormous benefits to your mortgage protection. Not only, the insurance policy will pay beneficiaries a lump-sum of money in the event the insured dies, but the policy brings a Critical, Chronic, and Terminal illness benefits that allow the insured to take advances up to 90% of your death benefit if health conditions fall within the insurance policy rider. You can use these benefits to help pay off or continue making mortgage payments while you or your spouse are recovering from the illness. Also, available options are waiver of premiums or adding coverage for other members of your family.
These Living Benefits can provide you peace of mind that your family’s home is safe no matter what the future may bring. Working with American Insurance Shield agents, you will have multiple options presented to you, and you can decide what coverage makes sense and which policy fits your needs.
In the United States each year, 60% of bankruptcies are due to critical illness, 80% of the petitioner’s had a health insurance policy. Health insurance alone will not suffice in a time of crisis…. if something unexpected happens and you cannot afford to pay your mortgage, do you have a plan?
If the price is the same, which policy would you rather own?
A life insurance policy with Living Benefits can help to protect your home, family, and income in case of premature death or the financial impact of a Critical, Chronic, or Terminal illness.
