Mortgage loan insurance helps protect lenders against mortgage default. This is an effective way of ensuring your family will be able to keep your investment in the event a loss of a loved one has occurred.
Buying Mortgage Insurance
Mortgage Insurance is a low cost but essential way to ensure your family does not lose their principal property in the event of a deceased loved one. Ranging from terms of 5, 10, 15, 20, 35, and 100 years of coverage. Buying Mortgage insurance with an insurance company protects you from interest charged at the bank and has a level insurance coverage to the end of the term.
Are you a first time home buyer? Do you still have a mortgage? would you like to know if you are paying too much on your Mortgage Insurance? If you can answer yes to any one of these contact us today!
Unlike Whole Life and Universal Life policies, Mortgage Insurance does not carry any Cash Value within its product. If you have not paid off your mortgage in the specified amount of time you may be subject to renewal fees.