Mortgage Life Insurance
Your home is the most important investment you ever will make and a big commitment. But what would happen if you were to become ill, suffer with accident or die? You don’t want your loved ones to have to worry about how they are going to keep up with repayments in case of an unexpected event.
You can help prevent that from happening. Mortgage Life Insurance is a policy that protects your family’s most important asset and ensures they will be able to pay off the mortgage upon your death.
Why You Should Consider
Buying Mortgage Life
Most mortgage policies provided under your lender or bank, offer insurance plans which protect their costs not yours. Mortgage Life Insurance is a policy that protects your loved ones and ensures your home stays with your family even when you are no longer around to provide for them.
Mortgage Life Insurance gives you and your family peace of mind. If you pass away, the insurance policy will cover your loan until your mortgage is repaid in full. The comfort in knowing your house will be fully repaid and you will not have to worry about your loved ones struggling to meet mortgage payments is what makes most families buy this type of insurance.
These are just a few of the reasons why you should consider buying a Mortgage Life Insurance:
- Mortgage Life Insurance pays off your mortgage if you pass away before it’s paid off;
- Benefits are payed directly to your family, not to your lender or bank;
- You can make sure the premium rates remain fixed with guaranteed premiums;
- Simple and fast approval process with minimal underwriting;
- Your insurance policy will not be cancelled if you change homes;
How Mortgage Life Insurance Works
Mortgage Life Insurance helps guarantee that your family can keep up with mortgage payments if you were to become critically ill or pass away. You can choose the coverage based on your mortgage balance and financial needs.
Each time you pay your mortgage, the total amount you owe to the bank or lender decreases. With mortgage life insurance, the amount paid out in the event of your death decreases at around the same rate. This is the reason why mortgage life insurance is also known as “decreasing term life insurance”.
Protect Your Family and Your Home
Mortgage Life Insurance is a smart way to protect your family’s home and ensure they have the financial tools to pay the bills when you are no longer around them. But, choosing the right plan is an intimidating process and you need a trusted advisor to help walk you through the application.
Committed to providing individualized attention and exceptional customer service to all customers, HTD Financial Solutions strives to help you find the right policy for your needs.