Your home is probably the most important investment you’ll ever make in your lifetime. It’s only natural that you’d want to protect that investment. Protecting your house with life insurance can be one of the smartest decisions you make. Why, you ask?
Well, in the event that you or your spouse passes away, imagine the financial burden your family would have to shoulder without any insurance policy in place. How would they manage to make the mortgage payments? The median mortgage payment per month for US homeowners is $1,030. Would they lose their home?
Considering the fact that the average mortgage lasts for 30 years, it’s wise to have a mortgage life insurance policy in place. Read on to learn more about why you should get this policy.
What is Mortgage Life Insurance?
A mortgage life insurance policy is a kind of life insurance that allows your remaining mortgage balance to be paid out in the event of their death. This kind of solid financial backing prevents your family or dependents from being indebted with the heavy burden of a mortgage. A mortgage life insurance policy ensures your family’s financial security when you’re not there to support them anymore.
The Benefits of a Mortgage Life Insurance Policy
No Guesswork Involved with Funds Allocation: In the event of your death, mortgage life insurance will clearly earmark funds specifically for paying off your outstanding balance. It is clearly matched up to your mortgage balance. Your family will be spared the stress of having to deal with how to allocate the money.
Minimal Underwriting: An additional benefit of a mortgage life insurance policy, is that it allows the policyholder to either avoid the underwriting process altogether, or only have to deal with minimal underwriting. Mortgage life insurance doesn’t typically require a medical exam or blood work for qualification.
Prevent your family or dependents from having to bear the financial burden of a mortgage. Consult financial experts to ensure they receive the perfect mortgage life insurance coverage.
We are a leading life Term Insurance broker fl with years of experience ensuring its clients and their families are secure with strong financial plans and insurance deals.
If you require mortgage life insurance FL or term life insurance services in Pinellas County, Palm Beach County, Hillsborough County, and elsewhere in Florida, get in touch with us for a free quote! Or call them at (800) 381-1245.