Mortgage Protection Insurance

The biggest financial obligation most people ever take on is their home mortgage. Today, it's often possible because there are TWO INCOMES available to pay for it.  But what happens if something happens to one of those incomes due to death or disability?  And the actuarial odds of one of two dying is great than one alone.

We'll deal with disability seperately.  But for the unexpected death of a bread-winner, all of the sudden survivors must not only face the loss of a husband, wife or parent, they may also face the possible loss of the home they have lived, or planned to live in for years. Life insurance provides survivors with time and options in how they wish to carry on.  It eases the financial impact of lost income, and can mitigate the emotional impact of other adjustments that must follow.

Many people respond to the mortgage life offers that fill their mailbox after closing on their loan. But these policies carry disadvantages many never recognize until too late: First, they are more costly that other options, Second, the policy amount decreases even if they refinance; and third, at death they usually pay off the lender immediately, even if it would be preferable for the survivor to bank the funds and take their time paying off a below-market loan.  They are just not very flexible.  

Most people have found that integrating a mortgage liquidation plan with your other life insurance planning is by far more economical and flexible.

Life insurance planning is not complicated, but it does require setting aside a little time to consider your objectives, while you are present to plan together, for a time when one of you may not be. 

Depending on the complexity of your concerns and objectives, a brief meeting or conference call may be sufficient to develope a plan that will leave you, and you fmaily, with assurances and options that express the love and commitments you share.

To find out more information, fill out our no obligation mortgage quote form, and one of our friendly agents will contact you.