What is Mortgage Protection Insurance?
Mortgage protection life insurance is a life insurance policy that provides your loved ones with a death benefit to pay off your mortgage when you pass away. It’s not just a piece of paper, though. It’s an investment in peace of mind. You can rest easy knowing that your family will not lose their home, even if the unthinkable should occur.
C&C Financial Group works with over 10 top-rated insurance companies so we can find a plan that will fit your budget and your needs. These policies are term policies in which the term matches the term of your mortgage. We also have plans that can return all of your premiums at the end of the term of the policy. Many of these policies will even waive your premiums if you become unemployed. Unlike mortgage insurance offered by mortgage lenders, the recipient of your mortgage protection life insurance policy benefits is your family, not the mortgage lender. These life insurance policies are also portable, so if you move, your policy moves with you without any requalification. In most instances, you can apply for coverage without having to undergo a medical examination – all you have to do is answer the questions on the application.
Why is Mortgage Protection Insurance Important?
A time of mourning is no time to make major financial decisions or face the impending crisis of foreclosure. But, all too often, families are forced to put their home up for sale or risk losing it to the bank when the unexpected happens. Mortgage protection insurance can ease the financial burden on your family and ensure that they can make the next house payment, even in dire circumstances. If you are injured or stricken with a life-threatening illness, or if you die, you can leave behind a blessing to those you hold closest to your heart with a custom mortgage protection insurance plan.