Mortgage Protection is a policy that pays off or pays down your Loan when the insured passes away. It can also provide funds to make your Mortgage Payment for Disability due to an accident or sickness. Mortgage Protection can also pay off your loan or make mortgage payments in the event of a Major Health Condition such as; Cancer, Heart Attack or a Stroke and more…
This question is more individually answered & based on what’s important to you!
So let me ask you a few questions:
If you answered YES ! to either one of these questions, you & your loved ones would greatly benefit from Mortgage Protection.
Mortgage Protection is a Insurance policy specifically designed to protect your home from Foreclosure due to death! It can also include other options to cover situations you may be concerned about such as; illness or disability & if nothing happens some plans will even give you a 100% refund of your premium at the end of your term.
Mortgage Protection is a individual plan provided directly to the homeowner, spouse or significant other for the payoff or protection of the home.
It’s important to know that there are 4 factors that will determine your options for Mortgage Protection.
These factors are;
Because these factors vary from person to person the only way to get your specific options for Mortgage Protection is usually from a Mortgage Protection Specialist, someone who has access to multiple carriers with plans specifically designed for Mortgage Protection. Click Here to schedule a consultation with one of our mortgage protection specialist who can help you establish coverage right over the phone.
The cost of your Mortgage Protection plan will be determined by the options available to you & remember the 4 Factors that determine your options which are;
But as the homeowner you can determine the type of Mortgage Protection Plan their by controlling the cost to help make your Mortgage Protection plan as affordable as you need it to be!
Let me explain, there are usually 3 Types of Mortgage Protection Plans
My Mom passed away in December of 1998. She had mortgage protection, but it was directly provided from the lender, and she wasn’t aware that if she refinanced the loan, she would have to start all over. So when she refinanced the loan to get cash out so we could have what I believe she knew would be our last holidays together, her old lender immediately canceled her protection. When she found out and tried to get protection to pay off the loan, her new mortgage lender denied her because she was still being treated for cancer. So when she passed away no protection was there. If my mom had been properly educated about mortgage protection, she would have made a better decision one that would have made sure we got the home and not the bank in Foreclosure. That’s why we believe its important to have mortgage protection, but it’s just as important to know and understand what you have!
Quality Insurance LLC
5445 Southwyck Blvd
Toledo, Ohio 43614