Mortgage protection is a unique form of life insurance which appeals to homeowners.
If you died unexpectedly, do you have enough life insurance to cover your loan balance and leave your family free of the burden of unpaid bills and living expenses?
The #1 cause of foreclosures, as well as bankruptcies, is the lack of adequate insurance. For example, if you currently have a monthly income of $5,000, you’d need over $500,000 in life insurance just to generate that income upon your death. If you consider that these figures fail to represent inflation, taxes and new expenses over time, it’s easy to see that mortgage insurance can be a smart, low-cost solution, or alternative, to a homeowner’s life insurance policy.