Mortgage Protection

We help clients protect their Mortgage by paying off either a portion or the full amount their mortgage in case of death or disability. We also protect the equity you have in your home. Most often, we utilize the Return of Premium (ROP) to help pay off the clients home early. 

A home is often one of the largest investments a family will ever make. Mortgage Protection/ life insurance can help protect your loved ones and family home in the event of an economic hardship caused by death, disability, or unemployment.  

A Mortgage Protection /Life Insurance policy helps guarantee a Tax- Free Benefit to the beneficiaries that can help with mortgage payments or other financial responsibilities in the event of the policyholder’s death. The money can be used to:

(1) Pay off the mortgage in the event of death,     

(2) Make the mortgage payment during a disability,   

(3) Pay a lump sum if diagnosed with a qualifying illness, 

(4) Protect your valuable coverage if you become involuntarily unemployed or totally disabled, 

(5) Receive up to 100% of the base premiums at the end of the Cash Back Option (CBO) period (Amount of years that you elected to be covered for). 

Mortgage Protection insurance operates like term life insurance. You make premium payments for the duration of the policy term and are only covered while the policy is in place. Many insurers issue policies that are the same length as the term of the covered mortgage, the coverage ranges from 15, 20, 25 or 30 years, depending on the number of years that you would like to have coverage for.   

The amount of coverage for your Mortgage ranges from $100,000 to $400,000. Once you reach the end of the term, you are no longer covered. However, if you selected the Return of Premium/ Cash Back Option (CBO) 100 (100% back) or 50 (50% back) option, you will receive all the money paid into the premiums. 

Accidental Death Benefit Rider (ADB) is an accidental injury is defined as an accidental bodily injury sustained by the Insured, which is a direct result of an accident, independent of disease, bodily or mental illness, infirmity, or any other cause. 

The Accidental Death Benefit will pay if the insured dies as a direct result of an accident (in addition to the $1,000 Term Insurance Death Benefit). A common carrier benefit will pay if the insured dies as a direct result of an accident, while riding as a passenger in a common carrier. 

A common carrier is a public passenger conveyance operated by a duly licensed common carrier for regular passenger service by land, water, or air with a definite schedule of arrivals and departures. Issue Ages for ADB: Minimum Age: 20 - 60

Ideal age of Policy holders: 20-60 years old.