215-704-6385
Mortgage Protection
Mortgage Protection
What is Mortgage Protection?
Mortgage Insurance or Mortgage Protection Insurance is a very practical form of income protection in this day and time. Our jobs are important. With so much uncertainty surrounding our jobs, mortgage protection insurance is a worthwhile investment for your peace of mind. Mortgage Protection Insurance does just that – it helps you continue to pay your mortgage in the event of an unexpected injury or job loss.
Have you considered how you will pay your mortgage if you lose your job or become disabled for any length of time? Mortgage protection insurance will cover some or all of your monthly mortgage bill in the event you can’t work. Most of these policies will also pay off your entire loan should you pass away.
The Hengey Agency offers different coverage options and prices through our vast network of insurance companies we work with. The cost of mortgage protection insurance varies from person to person. Your rate can involve several factors such as being based on your age and health, as well as the current value of your home, the amount of your regular payment, and the current payoff amount of the mortgage. With mortgage protection insurance policies that make monthly payments in the event of an injury or disability, your cost will vary greatly based upon the industry in which you work. For example, an electrician is at a higher risk of disability than an accountant.
Mortgage Protection Insurance Options
If you purchase mortgage protection insurance that pays off your loan in the event of your death, your insurance company can send a check directly to your lender for the current payoff amount on your mortgage. In turn, your grieving family won’t have to deal with a home that has a mortgage attached or the concern of how to continue to pay the mortgage. In the event your insurance covers disability or job loss, they may not cover your entire mortgage payment. Instead, they will most likely cover a certain amount that’s specified in your contract.
Mortgage protection insurance protects you and your family as a borrower with your best interests in mind.
Benefits of Mortgage Protection Insurance
This kind of protection usually has very high acceptance rates compared to some life insurance policies. If you think you may have trouble getting life insurance because of your age or any pre-existing medical condition, then applying for mortgage protection insurance is your next best option to protect your family’s standard of living due to injury, job loss, or the unexpected passing of your life.
Peace of mind is what best describes this type of insurance. With the right mortgage protection insurance, you don’t have to stress and you’ll know that your payments will be made.
Call TODAY (215) 704-6385
for a
FREE consultation and quotes
