What is Mortgage Protection Insurance?
For most homeowners, the mortgage is the single largest source of personal debt. Mortgage protection insurance is a specialized life insurance policy offered by Basta Executive Financial Services and Employee Benefits, that is designed to pay off that debt in the event of your death.
Mortgage protection insurance is life insurance which protects a homeowner and family for a limited period of time, usually the length of the mortgage term. If the covered primary income earner dies during the mortgage term, a death benefit can be paid to the surviving family members, who can then use the funds to pay off the balance of the mortgage.
Mortgage protection insurance is generally used to replace your income so that your family doesn’t have to struggle to pay the mortgage or other bills when you’re gone. With Basta Executive Financial Services and Employee Benefits, you also have the option of getting all of your money back if you do not pass away within the term of the policy.
Why is Mortgage Protection Insurance so important?
Imagine the worst case scenario. A fatal accident today would force your loved ones to immediately experience financial hardship. On top of your final expenses, the mortgage is due, but your family has no way to pay it without your income. They haven’t even had enough time to grieve, and now they have to deal with the impending tragedy of foreclosure.
Like most life insurance, mortgage protection insurance eases the financial burden for your loved ones when you’re gone. It is an affordable way of ensuring that your home is paid for no matter the circumstances. Your family will never be in jeopardy of losing its home as long as you put a custom mortgage protection insurance plan in place.
Tragedy can strike your family when you least expect it, straining finances to the breaking point. Without careful planning, bankruptcy and foreclosure might not be far off. Our mortgage protection insurance plans shield your family from the financial fallout so that life can go on without the threat of financial instability.
Mortgage Protection Insurance Provides:
- Ability to qualify without a medical exam
- Up to $2 million in coverage
- Ability to qualify even if you have health conditions (like diabetes, COPD and more)
- Accelerated benefits you can use if diagnosed with a terminal or critical illness
- Ability to earn interest on your premiums to provide you and your family an extra source of income for emergencies
- Benefits that can provide up to twice the normal benefit in the event of accidental death
- Benefits as a lump sum or monthly payments over time
- A refund of all your premiums when the policy expires
Our team of highly skilled mortgage protection specialists will work with you to develop a plan that provides the coverage your family needs at a price you can afford. To learn more about these and other benefits of our mortgage protection insurance plans, 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.