Mortgage protection insurance is designed to cover your mortgage in the event you unexpectedly pass before paying off your home OR suffer a heart attack, stroke, or cancer and still live. This is what is called the Living Plan. This policy is meant to protect you and your family for any unforeseen events as mentioned above and provide Peace Of Mind that your home and family will be protected.
A mortgage protection policy will match what you currently owe on your home. If you pass away and have this policy in place, the payout will go immediately to your designated beneficiary and your family will not have to pay a penny.
Do you know anyone that has been diagnosed with cancer or has had a stroke or heart attack? Some policies will even provide coverage to pay off your mortgage for Life Events such as heart attacks, strokes, and cancer.
Mortgage protection insurance is a great and affordable option for anyone that owns a home or multiple homes or investments. It isn’t a required policy, and it may not always be the best option, especially if you qualify for a life insurance policy that can provide a large payout to your loved ones after your passing.
Mortgage protection insurance can also be used to supplement a life insurance policy if you have one, providing extra financial coverage if you have a spouse or dependents living with you.
The Think Wealth Group is dedicated to helping you find the right type of coverage at an affordable price. To get started, fill out our contact form and we will follow up with you!
