Term Life Insurance with Living Benefits, makes ideal mortgage protection, as well as family income protection, because it provides "living benefit(s) riders", that may allow access to your policy death benefits, while you are still living, in the event of a critical illness, chronic illness, or a terminal illness. Money that can be used to payoff your mortgage.
Purchasing Living Benefit Term Life Insurance in an amount adequate to cover your mortgage balance, and any additional funds you may wish to set aside for an emergency fund, college fund, daily living expences, as well as final expenses, is an affordable way to "Leave A Deed Not A Debt."
Please make Certain Your family will NOT lose their home in foreclosure because they were left unprotected from the financial burden that often follows when a primary family income provider dies, or even survives a Critical illness, such as a Heart Attack, Stroke, or Internal Cancer.
Don't mistake (MPI) Mortgage Payoff Insurance for (PMI) Private Mortgage Insurance. (PMI) Private Mortgage insurance, is a type of insurance that only protects your lender and is required by your lender while your mortgage balance is 80% or greater than the appraised value. It does not protect against foreclosure, but merely insures your lender will get their money if you fail to pay as agreed and they have to foreclose.
(MPI) Mortgage payoff insurance is a type of mortgage insurance, usually term life insurance, that protects your family by providing the funds to payoff your mortgage.
Stroke: Every 40 seconds someone in the U.S. has a stroke.
In the U.S. Stroke is the third leading cause of death,
but it is a leading cause of long-term disability.
Cancer: Every 30 seconds a New Cancer is diagnosed.
More than half of Americans diagnosed with cancer
will survive for at least 5 years.
Heart Attack: Every 44 seconds someone suffers a heart attack.
Three-quarters of all male, first-time heart attack victims
aged 35-54 survive at least 5 years.
Insurability: On a statistically average day, 6,000 people die and 19,000
become uninsurable due to a medically diagnosed serious
The Best Way, and The Least Expensive Way, to Insure You Will . . . "Leave a Deed, Not a Debt "
Compare the rates of up to 60 term life insurance plans available to Payoff your Mortgage. Not all Mortgage Payoff Insurance plans feature living benefits. For Payoff Mortgage Insurance with living benefit riders (See Living Benefits info section below.)
Without adequate protection from the loss of your income and the added expense of medical care, nursing care and home health care, your family may not fully recover financially, or emotionally, even if you recover physically. That is why the best Mortgage Protection may be a term life policy with living benefit riders.