What is Mortage Protection?
Mortgage Protection is a Term Life Insurance policy. It pays a death benefit to the family if a key family member dies. It often also has a disability benefit that pays for the mortgage if the key family member becomes disabled but does not trigger the death benefit.
What that means is that this policy protects the family from homelessness when hardship strikes.
What does that mean for the average household?
Many families are living paycheck to paycheck. Under these circumstances, sudden hardship could destroy a family, jeopardizing the children's futures. It's important to prepare against that risk, and Mortgage Protection can provide that.
What to look for?
Unfortunately, your eligibility for such life and disability plans depends on your ability to show you don't need it right now. So, don't wait. As soon as you buy a house, go and get Mortgage Protection.
Look for a Level Term policy that lasts at least 15 years, with a disability add-on of at least the monthly mortgage payment. (Watch out for "Annual Renewable Term, which is not in most people's best interest!)
We recommend speaking with an experienced agent. But if you'd like to look at options on your own, here is a link to provide preliminary quotes to yourself with all of our insurance partners before calling Dan: Look at Term Quotes here
