What is Mortgage Disability Insurance?
What would happen to your home and your family if you were injured at work or in a car accident, or if you were to become ill and unable to work?
Paying the mortgage can be nearly impossible when you’re suffering from an illness or injury. Mortgage disability insurance pays the bill for you if you’re disabled and unable to draw an income.
Basta Executive Financial Services and Employee Benefits can offer mortgage disability insurance as a stand-alone disability policy or in conjunction with life insurance, so that your family is protected if you become disabled or if you pass away. You want to make sure your loved ones are protected from the loss of their home not only in the event of premature death, but also if something were to happen and you were disabled and unable to work and make the mortgage payment. Most households today rely on two income earners to cover the mortgage and monthly expenses. Therefore, mortgage disability insurance is important protection.
Why is Mortgage Disability Insurance so important?
Here’s a sobering fact. Nearly half of all foreclosures are caused by disability and medical problems. On top of that, according to the Social Security Administration, just over 1 in 4 of 20 year-olds (as of 2013) will become disabled before they retire. If you put two and two together, it’s pretty clear that disability is one of the most significant threats to your home.
Don’t let yourself become a statistic. With a mortgage disability insurance plan in place, you can rest assured that your home will be paid for regardless of your health. If illness or injury should occur, you can focus on recovery instead of worrying about how the bill gets paid.
Cancer, heart attack, and stroke: these are just three examples of devastating illnesses that can strike at any time, robbing your family of its financial security. It could become difficult to make your mortgage payments if an illness or injury prevented you from working. Basta Executive Financial Services and Employee Benefits provides mortgage disability insurance plans that safeguard your family’s welfare, so you can worry about recovery instead of bills. Here are some benefits of mortgage disability insurance you may not have known about:
Mortgage Disability Insurance Provides:
- Coverage without a medical exam
- A monthly benefit to pay off your mortgage in the event of prolonged disability
- Get up to twice the normal benefit in the event of accidental death
- Options for your family to receive the benefit as a lump sum or monthly over the course of several years
- Receive a refund of all your premiums when the policy expires
Our team of highly skilled mortgage disability specialists will work with you to develop a plan that provides the coverage you need at a price you can afford. To learn more about these and other benefits of our mortgage disability insurance, please fill out the form below today and one of our licensed agents in your area will contact you. We look forward to hearing from you!
Note: Not all benefits are available in every state. Please ask your insurance specialist for more details.