Mortgage Life Insurance

Your home is most likely your family’s largest asset, but a pretty significant financial responsibility. Is it protected in the event something were to happen to you unexpectedly? Mortgage life insurance is a type of insurance coverage that offers homeowners peace of mind and security in knowing if they pass away before a mortgage is paid in full, loved ones will be able to continue to live in the home they love without worrying about making payments. If you’re considering mortgage life insurance, here’s what you should know.

Mortgage Life Insurance Coverage

While every life insurance policy is different, most mortgage life insurance policies offer benefits that range from $50,000 to over $500,000. Terms lengths typically coincide with mortgage terms with 15, 20, 30, even 40 year terms possible. Eligible mortgages include first time loans, variable rate mortgages, refinanced and adjustable rate mortgages.

Mortgage Protection Made Easy: Avoiding a Financial Predicament

Financial responsibilities are everywhere, but a mortgage payment is typically one of the largest. For homeowners with families, purchasing insurance to protect your home mortgage is a smart strategy and an easy way to ensure your loved ones can maintain the lifestyle they enjoy in the home they love. Should you pass away during the term of your policy, your insurance pays your mortgage in full, bringing peace of mind and security to an otherwise difficult situation.

Mortgage Life Insurance is Affordable and Easy to Obtain

Despite what you think, mortgage life insurance is affordable and is also one of the easiest types of insurance to get approved for. With no restrictions for medical or pre-existing conditions, mortgage life insurance may be a practical alternative for homeowners who find it difficult or expensive to secure traditional term life insurance. If you do not qualify for term life insurance, mortgage life insurance may be a smart option.

Mortgage life insurance can help homeowners get the security they deserve with protection from uncertainty. It’s assurance that if misfortune strikes, family and loved ones can remain in the home without worrying about paying the mortgage. With no medical restrictions, an easy application process and affordable rates, mortgage life insurance may just be the solution you’ve been looking for.

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