24 Nov WHAT ARE THE ADVANTAGES OF MORTGAGE PROTECTION INSURANCE?
The primary reason for purchasing mortgage protection, and the primary benefit, is to provide available cash to pay off your mortgage in full in the event you die with an outstanding mortgage balance, or become disabled or ill and are unable to continue working and making your mortgage payments. This can help ensure your family can stay in your home.
Mortgage protection is also easy to purchase, because there is generally no physical exam required. Best of all, premiums are competitive and affordable.
Even if you have separate individual life insurance coverage, or are covered under your employer’s policy, purchasing mortgage insurance often makes sense because it provides death benefits designed specifically to pay off your home mortgage.